Members born from 1957 onwards can withdraw an additional amount from their Retirement Account (RA) when they turn 65. Once you start your payouts, your RA savings will need to be used to provide for your payouts. You can choose to use part or all of your withdrawable RA savings to increase your monthly payouts via the Plan my monthly payouts service. In that case, the amount used to increase payouts will no longer be withdrawable. If you do not choose to use it to increase your monthly payout, the amount will be transferred to your Ordinary Account (OA) so that it remains available for your future withdrawal at any time.

 

Refer to the infographic below for examples of the transfer of monies from your RA to your OA.