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As a member of pension Scheme, it is important that you understand your rights and take interest in your pension plan since this is what you will rely on after retirement.
Members’ Rights
Right to receive a summary of the Scheme’s Trust Deeds And Rules or the statutory instrument that established the Scheme;
Right to annual membership benefits statements
Right to receive the annual report from trustees, audited financial statements and summary of trustees’ remuneration
Right to access information and services related to pension
Right to access your benefits at retirement; the employer cannot deny you your benefits under any circumstances or assign your benefits to settle any claim including a loan balance
Right to receive your pension benefits within 30 days after your retirement
Right to representation in the Board of Trustees
Right to retain your benefits within the former employer’s Scheme or to transfer your benefits to a scheme of your choice upon changing jobs
Right to file a complaint or claim on pension matters with the Retirement Benefits Authority for investigations
Persons emigrating to another country without the intention of returning are now entitled to withdraw the whole member contributions account with the approval of trustees
Right to protection of personal data from processing that is not in accordance with the Data Protection Act, 2019.
Members responsibilities
To obtain and make every effort to understand the Scheme's documentation including the Trust Deed And Rules or the statutory instrument that established the Scheme;
To make reasonable efforts to attend information briefing sessions where invited including annual general meetings and member education days
To provide all necessary information as required under the Scheme rules. Such information shall be accurate and timely to allow service providers carry out their functions effectively;
To conduct oneself with decorum and respect when dealing with trustees and service providers.
