WHAT IS TERM ANNUITY WITHDRAWAL BENEFIT?
It provides financial stability during retirement or after leaving the workforce, ensuring a steady income to support your needs and your family's future.
KEY BENEFITS
Guaranteed Income
Flexible Terms
Choose a payment period that suits your needs.
Financial Security
Helps you plan and enjoy your retirement with peace of mind.
Safe & Reliable
Backed by TNPF's strong management and sound investments.
Support for Loved ones
Provides continued financial support to you and your dependents.
No Tax Applied
No Tax will be applied to such withdrawal payments.
HOW IT WORKS
STEP 1
Decision Phase
It is up to you on how much you want to put back into TNPF under the Term Annuity Withdrawal Benefit.
STEP 2
Choose your Term
Select the payment period that suits your needs. It should be more than 5 years.
STEP 3
Receive Monthly Payments
Enjoy regular monthly payments throughout your chosen term.
STEP 4
End of Term
Payments will end once all your funds invested in the Term Annuity Benefit has been exhausted.
WHO CAN APPLY?
Members who have reached the minimum withrawal age.
Members who have permanently ceased employment and are not returning to the work force.
Members who meet the required minimum account balance.
REQUIRED DOCUMENTS
Completed Term Annuity Benefit Application Form.
Bank Account Details for payments.
Any other documents as requested by TNPF.
IMPORTANT NOTES
After opting for the Term Annuity Withdrawal Benefit and have changed your mind, you can always change the term (> 5 years).
Payments are made monthly in advance to your nominated bank account.
Annuity rates are reviewed from time to time.
This Benefit is subject to the TNPF Act and Policy requirements.
Our friendly team is here to help you understand your options and guide you through the application process.