Your pension is for your retirement, but there may be times when you need to partially or fully withdraw it. Perhaps you are leaving Cayman and wish to move your pension with you, or maybe an expensive medical emergency has come up. Certain conditions under the National Pensions Law do make early access and pension withdrawals possible.
See Withdrawal Options for further information.
Additional Voluntary Contributions are extra payments to your pension. If you have AVCs, you may be granted early access to them, so long as you are using them under these four categories:
Further conditions apply under the National Pensions Law, and the Department of Labour and Pensions provides guidance on this.
You are permitted to access your AVCs up to 4 times each year. There is no requirement for you to repay this.
If you have reached your retirement eligibility age, you may begin the process of accessing your pension benefits through a Retirement Savings Arrangement (RSA) or life annuity. For more information on this, check out our blog What to expect when you retire.