An Annuity is a contract agreed upon by a retiree and the retirement fund or an insurance company detailing how monthly pension payments would be made to the pensioner for the rest of his or her life.

When a member retires, he or she has the option to either buy a monthly pension (annuity) from the BPOPF or from an insurance company…

Members closer to retirement have a lower ability to take risk. In case of a loss they may not have sufficient time to recover before they retire. Their objective is, therefore, to preserve what they have accumulated over the years. To achieve this objective their money is invested in a Conservative Portfolio.

From April 2014, the…

When a member passes on, the whole benefit is paid out to the beneficiaries. BPOPF/ Employer undertakes investigations that will detemine the apportionment of the member’s accumulated pension to the beneficiaries.