Options Available When Reaching the Retirement Age of 55 years
When Members reach the age of 55 years they can either
- Make a Lump Sum Withdrawal OR
- Retiree pension for life.
For the latter option, they can receive a fortnightly pension for life. In the event of the retiree pensioner’s death, the spouse will take half the pension for a maximum of 10 years or death or when the spouse remarries. The pension will be funded from 75% of the net contributions (after all loan and other obligations to SNPF). The member will take the 25% lump sum.
For further information contact the Member Services Department at 64800 or email us at email@example.com