The concept behind phased retirement is simple - a pension fund is split into a number of policies (...
The concept behind phased retirement is simple - a pension fund is split into a number of policies (often 1,000) and the member can take benefits from each policy separately. This enables a member to stagger or phase the purchase of annuities over a period of up to 25 years (between ages 50 and 75). Although each policy can be treated separately, pension providers' illustration systems allow the benefit package to be considered as a whole. The benefit of phasing annuity purchase is that a member need vest only the number of policies necessary to produce a particular income level. The inco...
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