How can I make my contribution payments?
Based on your circumstances and convenience you may pay your contributions by cheque , banker’s standing order , direct debit , check-off etc. You may contribute at your own pace whether its monthly , quarterly , half-yearly or even annually.
Does the fund belong to me?
Yes , it is entirely yours and is available to you at your retirement or to your nominated beneficiaries upon earlier death. It is completely portable and is not affected by change in your employment.
Can I increase or decrease my contributions
You may increase , decrease or suspend your contribution as your contribution or situation permits.
How are my funds invested?
We take a prudent approach to investing your retirement fund. Security and sustainable long-term returns are foremost on our minds. We aim to maximize returns on your contributions while providing you a guarantee on accumulated fund.
What happens if I stop contributing?
The accumulated fund will continue to earn interest. You may resume your contributions at any time.
How can I monitor my fund?
At the end of each year we will send you a statement of account showing how your fund has performed during the year and the interest earned on the fund. Should you wish to know the current value of your fund at any time , you may contact us and it will be provided to you.
At what age can I retire?
You may retire as early as age 50 or even later than age 60 depending on your circumstances.
How much do I get at retirement?
The accumulated fund is available to you at retirement to purchase an annuity. The fund may also be taken as a lump sum subject to Income Tax deductions and approval from the Retirement Benefits Authority.
What is an annuity / pension?
An annuity/pension is the after retirement income you receive and is a series of periodic payments payable throughout your life. The accumulated fund at retirement is used to purchase the annuity. Details on the various options available - the type of annuities - can be made available on request.
What if I die before retirement?
The total fund accumulated at the date of your death will be payable to your dependents. Interest will continue to be credited to the fund from the date of your death to the date of actual payment.
What will happen if I’m disabled?
In case of early retirement due to ill health or disablement, the accumulated fund at the date of early retirement is payable. Interest will continue to be credited to the fund from the date of ill health or disablement to the date of actual payment.
Can I withdraw my fund before retirement?
You may terminate the contract and withdraw the fund at any time. However the fund will be subjected to taxes payable and locking-in of the benefit arising from the employer’s contribution.