Benefits on Ill-health Retirement

A member may, with consent of the Sponsor, and with the recommendation of a qualified medical practitioner, retire early as a result of ill-health.

The pension paid will depend on the value of a members account at the date of retirement.

One third of the Member Account will be given as an optional cash lump sum, and two thirds is commuted towards purchasing an annuity.

A member may choose to have the value of his accumulated credit at the time of retirement applied in providing an income draw down subject to a minimum draw down period of 10 years.