Government Pensions Administration Agency - All you need to know

This morning, we continue our series on retirement and accessing the services of the Government Pension Administrative Agency. Today, we focus on the impact of service awards, resignation and restructuring of positions on your pension funds. We are joined by….  

Questions:

1.  What does the term retirement in relation to GEPF?

2.  What is the difference between resignation and retirement?

3.  While at it - can you please explain the difference between gratuity, lumpsum and annuity and when does each apply relative to either resignation and retirement?

4.  What is the link between the age and the years of pensionable service?

5.  Are there any penalties for people who resign prior to retirement?

6.  Kindly educate us on the calculation of the funds accumulated for members with less than 10 years of service and those with more than 10 years of service

7.  What other important things should people consider before resigning?

8.  What is early retirement and how does it work?

9.  What does the GEPF compensate to the members who resign prior to retirement due to sickness or those whose posts have been abolished due to re-structuring?

Guest: Tracy Peters – Client Relations Officer at the GOVERNMENT PENSIONS ADMINISTRATION AGENCY