So how will my pension benefits be determined?

  • Pensions Alliance Trust Limited
  • Securing your future

Your pension will be calculated as before. The current law however has hived off the lump sum payments form SSNIT and will now be paid by your tier 2 trustee. In other words, SSNIT will continue to pay monthly retirement benefits. It also means that, the amount of lump sum you will receive will depend on the following factors

  • How much contributions you accumulate by the time you are retiring which will mostly be attributed to your salary history and how long you have worked and
  • How good your Trustees is in terms of its fund management and rate of return on your contribution.

You will thus receive two payments. A one -time lump sum payment from your TRUSTEE and a monthly payment from SSNIT.

Look deep into nature, and then you will understand everything better.

- Albert Einstein

subscribe to our weekly newsletter