Though the 2004 Pension Reform Act allows a pensioner to access his retirement benefits as programmed withdrawal or annuity, insurers appear disenchanted with their disadvantaged position in the scheme. NIKE POPOOLA analyses the peculiarities of both options and the keen competition that the scheme has subjected the insurers and Pension Fund Administrators to A critical decision that all fresh pensioners have to make immediately they want to start accessing their retirement benefits, under the new pension scheme, is choosing a better payment option that would guarantee them better financial security in future.
For this reason, before a worker retires, he should understand the peculiarities of the two options available to him for accessing his retirement benefits: programmed withdrawal and annuity.
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