Guaranteed Lifetime Retirement Plan
Maintain your standard of living in retirement by ensuring a regular and stable income.
Features
Guaranteed Lifetime Retirement Income Plan (GLRP) is an immediate annuity plan that seeks to help you maintain your desired lifestyle in retirement by converting your pension lump sum into a regular stream of income.
Product features :
- Guaranteed and steady income for life.
What’s in it for YOU?
- Guaranteed income for life subject to a minimum of 10 years.
- Regular income to a dependent in the event of the annuitant’s demise, if the option is chosen.
- Depending on the chosen option, income received can be protected from inflation or remain at a flat rate throughout the duration of the policy.
Further to SECTION 4.0 RULES OF GENERAL APPLICATION of the revised Retiree Life Annuity (RLA) regulation.
See attached the CPS Retirement Pack.
Who is it for?
Discover product details
Who is it for?
- Prospective retirees who intend to convert their RSA account balance to regular income streams
- Those who want a product which ensures that they do not outlive their assets
- Individuals who have a personal lump sum they want to convert to regular income
- Those who desire a plan that will pay them for life
Your Commitment
- Use your RSA balance (or lumpsum) to buy a Retirement Income Plan from us, to last the rest of your life
- Decide on the kind of income you want
How to pay your premium
Premium can be paid through the following channels:
- Complete a direct debit form
- Complete a standing instruction form with your bank
- Electronic transfer from your account to our account
- Deposit into our bank account (Please include your name and policy number on all payments).
Do not pay cash to/through our Financial Advisor or Staff .
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