Retirement Benefits
The main objective of the retirement benefit is to provide a lampsum payment for members who have reached age of 55 years or above. The qualifying amount is the total contribution of the member plus accrued profits from investments.
Mid-year/End year benefits
A member who has contributed for at least two years may opt to withdraw up to 10 % of contribution for the purpose of financing school fees for his/her children. This is applicable in July and January.
Un employment benefits
This will be paid upon when the member loses employment and stay unemployed for three months or more. The member will be allowed to withdraw 50% of his/her account balance and if unemployment continues for more than six months then may be allowed to withdraw the remaining 50%.
Early withdrawal
Any person who has contributed for at least 2 years may opt to withdraw his/her contributions. Early withdrawal will attract penalty on accrued profit in accordance to the rules of the fund.
Annuity services
A member may opt to deposit any amount in the annuity fund in lieu of periodic payment for agreed duration.
Survivors’ benefits
Outstanding balance of a deceased member’s account will be paid to his/her eligible relatives.
Collateralization benefits
Fund balance of a member may be used as collateral to secure a loan.
