The retiree can buy a Life Annuity contract by paying a portion of his/her RSA as premium to an insurance company, which in turn provides the monthly/quarterly payments (annuity), subject to the Regulations jointly issued by PenCom and the National Insurance Commission (NAICOM).
- 09. Can I choose Programmed Withdrawal and later change to Life Annuity?
- 07. What is the pension guarantee under Life Annuity?