Special Features
The Structure of the Scheme and Contents of the Benefits
Tax Eligible Plan
Annuity Plan………………………… Annuity Certain
Members must pay into the scheme for a minimum of 10 years.
If they retire (withdraw) from the scheme between the ages of
55 and 60 and would like to select the annuity certain, they may
not receive payments until their 60th birthday.
For a fixed period, the beneficiary receives an annuity,
regardless of whether he/she is still alive.
◎10, 15 or 20 year annuities may be selected.
……………………… Whole-life Annuity
During a guaranteed period, the beneficiary receives an
annuity, regardless of whether he/she is still alive. After that
guaranteed period, should the beneficiary still be surviving,
he/she will continue to receive the annuity.
◎A guarantee period of 10 or 15 years may be selected.
……………………… Whole-life Annuity for Married Couples
During a guaranteed period, the beneficiary receives an
annuity, regardless of whether he/she is still alive. After the
guaranteed period, should the beneficiary be deceased but
survived by his/her spouse, he/she may continue to receive
60% of the annuity for the rest of their natural lives.
◎A guaranteed period of 10 or 15 years may be selected.
Lump-sum Plan…………………… The payment is received as one lump-sum.
Free Choice Plan
Annuity Plan……………………… In addition to the same annuity options as for the Tax Eligible
Plan, a 5 year annuity certain option is also offered
Whole-life Insurance Plan……… In cases of death or severe disability, a death and severe
disability allowance and accumulated dividends will be paid.
If the contract has been cancelled, the cancellation return and
accumulated dividends will be paid.
Medical Insurance Plan………… From the time of retirement until the member reaches the age
of 70, medical benefits will be received.
Lump-sum Payment Plan……… A lump-sum payment will be received.
Dividends
Accounts w