A member is allowed to commute a third of the total pension accumulation. The remaining two thirds of the pension accumulation will be reduced to a monthly pension that will be paid to the member for life should the pension be in excess of the minimum prescribed limit set from time to time, if not, the total benefit is paid out as a once off lamp sum.

i. Early Retirement

When a member leaves employment after reaching the early retirement age of 55 years, they qualify to go on early retirement.

ii. Normal Retirement Benefit

On reaching the age of 60 years, a member qualifies to go on normal retirement. A member may however opt to defer retirement for a further period of not more than 5 years.

iii. Late Retirement Benefit

A member may opt to defer retirement up to the late retirement age 65 years. A member shall not be eligible to continue contributing as a member of the Fund after attaining 65 years. Should a member not claim their benefit at the age of sixty-five (65) years, their pension will be classified as an unclaimed deferred benefit and submitted to the Master of the High Court's Guardian's Fund.

Requirements for Processing Retirement Benefit

• A completed and stamped Pension Claim Form.
• A copy of the member’s National Identification Document or Driver’s Licence or valid Passport.
• A copy of the member’s last payslip showing year-to-date (YTD) figures is required for tax assessment purposes.