a.You will normally receive your retirement benefits when you retire.

b. With Normal retirement, Pension schemes provide benefits at the scheme’s normal retirement age, which is between 50 and 70 years as provided for by law. However, most pension schemes permit members to retire early with the employer’s and/or trustees’ consent, generally from age 50 onwards or with a minimum 20 years of service.

a.Contributions tend to be set as a percentage of pensionable emoluments which in general would be a percentage of your salary. If you join the scheme, you will be required to pay the level of contribution set out in the scheme rules. Similarly, the employer will be required to pay contributions as defined in the scheme’s rules. The Pension Act, 2010 prescribed minimum pension contribution rates for employee and employer at 5 and 10 percent of pensionable emoluments, respectively.

e. No matter who looks after the day to day running of the scheme, trustees remain responsible for making sure that members get full information about the scheme and their own entitlements.

d. In most pension schemes, trustees do not actually carry out the day to day running of the scheme. Trustees also, appoint a licensed Pension Administrator to carry out certain functions relating to the scheme, in particular to manage member data, administration of exists and payment of benefits and reporting to trustees and members in form of annual reports and annual benefit statements for members

a. When you join a pension scheme, you are entitled to information about your pension benefits, how the scheme is run and how the pension fund is performing. The trustees of the scheme must give you this information in a way that is easy to read and understand.

b. Pension schemes are normally set up either under a trust, an association of persons or a business carried on under a scheme or arrangement. 

a. The majority of pension schemes work in the same way, the most popular one being a defined contribution pension scheme.

b. Whilst you are working, both the employee and employer pay a small amount into your pension fund.

c. When you stop working (or reach retirement age as defined under the law and fund rules), you then receive regular payments based on the    amount you have contributed.

a. A pension is a regular payment made to a person following retirement from service or through fragilities like death or ill health.

b.  A recipient of a retirement pension is known as a pensioner or retiree.

c. If you haven’t been provided with any information relating to your membership under your pension scheme, ask your employer if there is a pension scheme in place, what sort of scheme it is, and whether you are a member or not.