BOTSWANA PUBLIC OFFICERS PENSION FUND FAQs Am I forced to encash ¼ when I resign or am dismissed from public service? A withdrawing member can defer the whole benefit until he/she reaches retirement age. When a member is dismissed at age 45 and above, he/she can opt to retire from the Fund. How are death benefits paid to minor children treated? Benefits for minors are placed in a Trust where the money earns interest. The interest is paid monthly to the child’s appointed guardian for the child’s sustenance. When the child reaches the age of 21 he/she will then be paid the balance in the Trust. Does pension stop at the end of the guaranteed period? No. Pension is earned for the rest of the pensioner’s life. Can I have a monthly pension that will increase each year? Yes. At retirement you can choose whether you want your pension to increase each year. For example, you can elect a pension with an annual increment of 2.5%, 5% or 7.5% per annum. If I make the Additional Voluntary Contribution, does the employer’s contribution also increase? No. The employer will continue to contribute an equivalent of 15% of your salary towards your pension
Posted on: Thu, 19 Jun 2014 09:06:56 +0000
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