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Normal Retirement Benefits

 

The above is payable when a member retires at age 60 or 70 as appropriate. A member who has retired can only access up to 1/3rd of their total benefits as cash lump sum as per the existing law and with the remaining 2/3rds, members are required to purchase annuities from an insurance company, that will ensure they receive regular pension for the rest of their lives. Members are free to choose any annuity provider in the market.