You are eligible for membership if you are over age 18 and have not attained scheme retirement date.

The monthly pension contribution is calculated as a percentage of your basic salary. Moreover, you can also opt to top up your account with additional voluntary contributions to benefit from a higher pension. In addition to the above, the Employer shall pay to the Assurance Company an administration fee and a risk benefit premium.

The Personal Member Account (PMA) will consist of the total number of units purchased from the unitised funds of Swan by the contributions made by you and your employer and any amount transferred into the scheme from your previous employer’s pension scheme.

Your scheme retirement date is the first day of the month coinciding with or following attainment of age 65.

The pension payable from your retirement date will be determined by the value of your Personal Member Account.

Yes, you can take up to 25% of your PMA in cash. Your pension will be reduced accordingly.

Yes, you can take a joint pension with your spouse that would continue to be paid as long as one of you is alive. This joint pension would of course be smaller than the full pension payable to you only.

You may opt for an early retirement:

- As from the age of 50, or
- On grounds of ill-health (as to which the decision of the employer shall be final).

Your pension in case of an early retirement will be calculated according to the value of your PMA at the time you actually retire.

If, with the consent of the employer, retirement is postponed beyond scheme retirement date, contributions will cease and payment of the pension will be deferred until actual retirement takes place. The pension amount on late retirement will depend on your then age, your PMA and the cost of purchasing a pension at that date. Should you die at any time whilst in service after your scheme retirement date, your PMA calculated at the date of death will be paid to your succession.

A pension may be payable to your spouse depending upon whether you had opted for a joint life pension.

You will have the following 3 options regarding the value of your PMA:

- Transfer it to the scheme of your new employer;
- Maintain it in this Pension Scheme to provide for a pension payable as from your appropriate retiring age;
- Transfer it to an approved Personal Pension Plan.

An amount equal to twice your annual basic salary at the time of death will be paid to your succession. Furthermore, your PMA and any amount transferred into the scheme will be paid to your succession.

You will receive a benefit equal to twice your annual basic salary at the date of disability plus a pension based on your PMA. 
The benefit may be payable in a lump sum or in 24 equal monthly installments.

Medical evidence may be required on entry into the scheme and on subsequent increase in death and disablement benefits. Pending submission of such evidence, these benefits may be limited. Members are therefore strongly advised in their own interests, to submit such evidence whenever this is required.