Select the respective code from the drop-down for each field on the list. The system will use these codes in its processing.

User defined limits should be entered in the fields above. Limits are categorized and explained as follows:

AGE LIMITS

• Age Limit (Lower): The minimum age at which a member can join or participate in the pension plan. Must be at least 16 years old. (e.g., 18)
• Age Limit (Upper): The maximum age up to which a member can join or participate in the pension plan. Must be no more than 99 years old. (e.g., 70) 

FINANCIAL LIMITS

• Transfer Value Received Limit: The maximum amount of money that can be received as a transfer value from another pension scheme.
• Salary Limit (Lower) (Monthly): The minimum monthly salary considered for calculating contributions and benefits within the pension plan.
• Salary Limit (Upper) (Monthly): The maximum monthly salary considered for calculating contributions and benefits within the pension plan. 

CONTRIBUTION LIMITS

• Ordinary Contributions Paid Limit: The maximum amount of regular contributions that can be paid into the pension plan by both the employee and the employer.
• Additional Voluntary Contributions (AVCs) Paid Limit: The maximum amount of extra contributions a member can voluntarily pay into the pension plan to boost their benefits.
• Contribution Refund Limit: The maximum amount that can be refunded to a member if they leave the pension scheme before becoming vested. 

BENEFITS AND PAYOUT LIMITS

• Contributions with Interest at Exit Limit: The maximum value of contributions, including accrued interest, that can be paid out when a member exits the plan.
• Current Deferred Pension Limit: The maximum pension amount that can be deferred for future payment if a member leaves the plan but does not yet retire.
• Transfer Value (Leaver) Limit: The maximum value of benefits that can be transferred to another pension scheme when a member leaves the current scheme.
• Pre-Commutated Pension Limit: The maximum amount of pension a member is entitled to before any lump sum is taken at retirement.
• Lump Sum at Retirement Limit: The maximum amount that can be taken as a lump sum payment upon retirement.
• Post-Commutated Pension Limit: The remaining pension amount after a lump sum has been taken, expressed as a percentage of the pre-commuted pension. Must be greater than 0 and less than or equal to 100%. 

CURRENT PENSION LIMIT

• Current Pension Limit: The maximum pension amount currently being paid out to a member.

MINIMUM AGE AT RETIREMENT

• Minimum Age at Retirement if Type of Retirement is NOT Ill-Health: The minimum age at which a member can retire under normal or early retirement conditions, excluding ill-health retirement. Must be at least 16 years old and no more than 99 years old.

   

Select the respective code from the drop-down for each field on the list. The system will use these codes in its processing.

Pension Guarantee Period: A defined period during which pension payments are guaranteed to continue to a beneficiary or estate even if the pensioner passes away. Typically, this period is set at the start of the pension payments and can range from 5 to 10 years or more. If the pensioner dies during this period, the remaining guaranteed payments are made to the designated beneficiary or estate.