If I leave employment before retirement age what will I get?

You will be entitled to one of the following options:-

• A Deferred Pension;
• A transfer value – member`s share of the Fund to be transferred to another Fund.
• Refund of own contributions plus Fund interest subject
  to taxation and transfer employer`s option to another Fund.
• Refund of own contributions plus Fund interest subject
  to taxation and defer the employers portion.

Employer’s portion is based on the continuous pensionable service completed.

(a) Payment of Your Deferred Pension

Your deferred pension will become payable at your normal Retirement date. However you may opt to be paid early:

• From age 55;
  OR
• On the grounds of ill-health subject to appropriate medical evidence.

(b) Transfer of Benefits

The transfer value is the share of the Fund due to the member exiting the Fund determined by the Actuary if the member is below the early retirement age of 55 years. The amount is only transferred to a Retirement Annuities or Pension Fund.

Is my resignation or dismissal benefit taxable?

If you opt to preserve or transfer your benefits to a registered Pension Fund or Retirement Annuity the transfer value is not taxed, otherwise if you decide to be paid your benefit it becomes taxable.

Which documents are required when claiming for my resignation or dismissal benefits?

• Certified copy of your Identity Document (ID) or valid Passport or Driver’s License,
• Fully completed Member Exit Form submitted by the Employer,
• Current Banking details,
• A copy of your last payslip.
• Member option letter.