HOW IS COMPULSORY OR VOLUNTARY RETIREMENT ESPECIALLY IN THE ARMED FORCES TO BE HANDLED UNDER THE NEW SCHEME, IF THIS HAPPENS BEFORE THE AGE OF 50 YEARS?

Under the Pension Reform Act 2004 a person can voluntarily retire or be compulsorily retired before the age of 50 years on the ground of medical advice, permanent disability or due to particular terms and conditions of employment. If any person retires under any of the foregoing circumstances, he is entitled to withdraw from his RSA even though he was under the age of 50 at such retirement; provided that, in the case of retirement due to particular terms and conditions of employment, the contributor does not secure another employment after six months from the last employment.




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