How TransPension works
The money you use to open your pension account (plus any future amounts you put in prior to the payment phase and investment earnings) is used to pay you a regular income.
How much you can take out of your pension as regular income will depend on whether you have an Account Based Pension or a Transition to Retirement Pension. See features and benefits for more detail about our two pension options.
Income payments continue until your money runs out. If you die before your money runs out, any remaining money will be paid out in line with one of the two options you chose when you applied for the pension.
Payment timing
Payment options are:
- Twice monthly
- Monthly
- Quarterly
- Half-yearly
- Annually