Help & Advice

Can I receive benefits before qualifying for retirement?

You may leave the Private Pension System whenever you wish, however in that case you cannot take advantage of the benefits offered in retirement.
For example, if you leave before 10 years is up a 15% stoppage, if you leave after 10 years is up but before the age of 56 a 10% stoppage over your savings is deducted.
Whereas when you leave after qualifying for retirement no taxes apply other than a 5% stoppage over 75% of your savings.

  1. Can I change the pension company?

    Yes. If you are not happy with the pension plan you have chosen and the return generated through the pension investment funds, you may change your pension company whenever you wish after your 1 year is up with the pension company which you have entered into an agreement or 1 year after your last change of company.

  2. Who audits the pension companies, and how? How is the security provided?

    The pension companies, in accordance with clearly set procedures and principles, are overseen and audited.

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