Benefits
Member Benefits Overview
Retirement
Members may retire at 60 years (normal) or 65 years (late), or earlier on medical grounds. At retirement, up to 50% of accrued benefits may be taken as a cash lump sum, with the balance paid as a monthly pension for life.
Members with benefits below the minimum threshold may opt to receive 100% as a lump sum.
Resignation, Redundancy or Dismissal
Members who exit due to resignation, redundancy, or dismissal may choose to receive their benefits as a once-off cash payment or transfer them to an approved retirement fund. Transfers are tax-free and cost-neutral.
Death Benefits
If a member dies while in service, benefits equal to total contributions plus interest are paid to nominated beneficiaries.
If death occurs after retirement, guaranteed pension payments (up to 10 years) are paid to beneficiaries. A qualifying spouse may also receive a spouse’s pension, depending on the option selected.
Know Your Benefits. Plan With Confidence
Whether you’re approaching retirement, leaving employment , or planning for your family’s future our team is here to help you understand your options and make the right decision.