10. Can I choose Life Annuity and later change to Programmed Withdrawal? – PensionNigeria

10. Can I choose Life Annuity and later change to Programmed Withdrawal?

No. Once a retiree has chosen to collect his/her benefits through Life Annuity, he/she is not allowed to change to Programmed Withdrawal. However, the retiree can change his annuity contract from one insurance company to another after every two years. The amount to be paid as annuity/pension will be based on the balance to be transferred between the insurance companies.

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