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Member Benefit

The following benefits are payable at retirement as per the provisions of this Act;

  1. A member may take a lump sum not exceeding one third of the balance in retirement savings account. However, additional Voluntary Contributions made into the Scheme and the accrued interest can be withdrawn in full.
  2. A monthly or quarterly annuity for life purchased from a life insurance company of a member’s choice; or
  3. A monthly or quarterly withdrawal calculated by an actuary on the basis of life span and paid from the Fund.


Death In-Service

In the event that a member dies whilst in Service before Retirement, the following benefits will be payable to the beneficiaries:

  1. A member’s scheme credit; and
  2. The insured benefit of up to five times the annual pensionable emoluments (Provided by the employer).