Retiree Fund Account

When an RSA holder retires from active service which may be as a result of mandatory retirement, compulsory retirement or retirement based on medical grounds, he/she may access the balance in the RSA. Upon attaining the age of 50 years, the Retiree is at liberty to choose between Programmed Withdrawal offered by Radix Pension Managers or Annuity offered by a licensed Insurance Company.

Where a Retiree have opted for programmed withdrawal, the RSA balance must have been transferred to the Retiree Fund Account Lump Sum/Programmed withdrawal. Where the Retiree opts for Annuity as against Programmed Withdrawal, Lump Sum is to be paid from the Retiree fund account and the RSA Balance (premium), transferred to an Insurance Company of choice.