Your retirement is an important milestone in your life. Most people hope to be able to maintain a reasonable lifestyle in their "golden years". The purpose of this guide is to assist you in investing the money you receive from the Political Office-Bearers Pension Fund prudently.

If you are retiring soon, the Fund will inform you of the total amount of your retirement benefit. Once you receive this, you will need to contact your administrator who will supply you with an option form. You will be required to complete this option form so that the administrator is aware of the option you have exercised.

On receiving this information, the two most important questions you probably have are:

  • How should I invest my retirement money?
  • What amount of monthly income can I expect to get from this investment?


You may take up to one-third of your total Fund retirement benefit in cash when you retire. The amount that you should take in cash depends on your individual circumstances (you should take advice in this regard), but the following guidelines may be useful:

  • It may be sensible to take a cash benefit to pay off any long-term debts you have, such as mortgage bonds or car loans. Debt is expensive, and paying it off is usually a good investment.
  • Depending on your tax position, it may be sensible to take the maximum tax-free cash benefit that you are entitled to. After paying off any debts, you should invest the rest of the tax-free amount to give you an income in retirement, but in a more tax efficient manner than receiving a pension.
  • If you do end up with a cash sum to invest (after paying off any debts), you should think about a sensible and prudent way to invest it. Ideally, you should avoid complex investments that you cannot understand. The reality is that you probably will need to live off your retirement capital for many years to come.

As a member of the Political Office-Bearers Pension Fund, you have the option when you leave office at any age to take a withdrawal benefit instead of a retirement benefit. This does allow you to access your full Fund benefit as a cash sum, although you will pay a large amount of tax on this amount. If you are tempted to consider this option, then remember that your Fund benefit represents your savings for your retirement (to provide for your needs and those of your dependants, in your old age), and you should take great care to deal wisely with the large amount of cash that you may receive. We would certainly encourage you to take expert financial advice, from a suitably qualified and licensed financial planner, before taking this option.

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The information contained in this site does not constitute advice by the Board of Trustees or by its advisors. If you need more information on how you can invest your retirement benefit, you should seek professional advice from a licensed financial advisor