24. Why would the amount of monthly pension and lump sum differ between employees who retired at the same time and on the same salary grade?

The amounts may differ due to the following major reasons:

1. Differences in their RSA balances as described in No. 23 above.
2. The age and gender.
3. Each of the retirees may have made different choices at retirement. For instance, one retiree may choose to collect the minimum lump sum or no lump sum at all so that his monthly pension can be higher. The other retiree may have chosen to collect a lump sum that is higher than the stipulated minimum and reduce his monthly pension.