Public servants to be allowed transfer of pension on exit

Pension

Currently, public servants cannot transfer their benefits to another scheme upon their exit from public service.

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Public servants will be allowed to transfer accrued pension benefits from the Public Service Superannuation Fund (PSSF) to a plan of their choice upon their exit in proposed changes that seek to make the scheme portable.

The fund has proposed changes to the Public Service Superannuation Scheme Act by introducing a new clause allowing the transfer of the balance of the retirement savings account.

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