The Retirement Account

Frequently asked questions

• How will I know how my pension is performing?

  We’ll send you a yearly statement to show you how your pension is performing.

  By reviewing your plan regularly, you can make sure that it meets your changing needs. Your financial adviser can help you with this.

  The Retirement Account

  Use our customer portal to gain an overview of your overall wealth valuations, fund allocation and rebalance strategy.

• How can I take my money when I retire?

  When you reach 55, you can take your money as:

  • A flexible retirement income, taken directly from your pension
  • UFPLS for full encashment of Pension Savings. Regular partial UFPLS can be achieved by ACPS (Automated Crystallisation of Pension Savings)A number of lump sums
  • A tax-free lump sum (if an option)
  • A guaranteed income for life (annuity)
  • A combination of all of the above

   

  From 6 April 2028, the normal minimum pension age (NMPA) will increase from 55 to 57. This means that from this date, you will need to be aged 57 or older before you can start taking money from your pension.

• How can I find out about the performance of my pension funds?

  Our Fund Research Centre gives detailed information on all the funds available in The Retirement Account. Here, you can:

  • Evaluate past performance
  • Access fund factsheets
  • See daily unit prices

• Can I change my mind and cancel my policy?

  Yes, you can cancel your policy up to 30 days after you receive your Schedule of Benefits document.

  If you do decide to cancel your policy, you’ll need to return any money you’ve received, including any tax-free cash payments.

• What can I view on the Customer Dashboard?

  As part of our service, you can access the Retirement Account customer dashboard.  The dashboard gives you the ability to view your account valuation, fund choices, payments in and out and important documents, relating to your account.

  To gain access to the customer dashboard be sure to provide us with your email address at point of application.