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Retirement Benefit

 

A member is qualified to avail of this benefit if:

  1. Member is 60 years old, separated from employment or ceased to be self-employed, and has paid at least 120 monthly contributions prior to the semester of retirement.
  2. Member is 65 years old, whether employed or not, and has paid at least 120 monthly contributions prior to the semester of retirement.
  3. Underground Mineworkers:
    • Aged 55 years old and is an underground mineworker for at least 5 years (either continuous or accumulated) prior to the semester of retirement but whose actual date of retirement is not earlier than March 13, 1998; separated from employment or has ceased self-employment; and has paid at least 120 monthly contributions prior to the semester of retirement.
    • Aged 60 years old, whether employed or not, and has paid at least 120 monthly contributions prior to the semester of retirement.