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

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

Yes. It is possible for a retiree to change to Life Annuity after collecting his retirement benefits through Programmed Withdrawal for some time. In this case, the remaining balance in the RSA will be utilized as premium to purchase the Life Annuity from an insurance company, which will be paying him monthly pension/annuity for life.

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