Common use of Benefit Options Clause in Contracts

Benefit Options. Except in the case of payment to you of a serious ill health lump sum, you will be required to transfer your individual fund to another registered pension scheme or qualifying recognised overseas pension scheme in terms of section 9 before you can start to take your benefits. Please note, you will not be able to transfer any investments held in your individual fund (ie if you wish to transfer your individual fund you will need to sell any investments and transfer the proceeds).