Two-pot
What will happen when you retire after the two-pot retirement system is implemented?
At retirement, you will have access to the 3 different components:
Vested component: This component could consist of both a vested and a non-vested portion due to T-day rules. Options are as follows:
- Non-Vested: 1/3 can be taken in cash and 2/3 must be used to purchase an annuity for regular income.
- Vested: 100% can be taken in cash or used to purchase an annuity for regular income.
Savings component: members can take up to 100% cash or purchase an annuity for regular income.
Retirement component: 100% of the capital in the retirement pot must be used to purchase an annuity for regular income.
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