What happens to my retirement annuity when I resign?

A retirement annuity (RA) is a personal savings product registered in your name, separate from your employer. If you resign from your job, your RA remains unaffected. Here's what you need to know:

Continued contributions: You can keep contributing to your RA even after leaving your job, if you can afford to do so.

Paid-up option: If you can't continue contributions, you can make your RA "paid-up" (stop contributing). Be aware that this may incur early termination charges depending on your provider.

Access to funds: As of 1 September 2024, you have partial access to funds with the two-pot system. Use our Two-pot calculator to learn more.

Retirement age: You can only claim your full RA benefits from age 55 onwards, regardless of employment status.

Transfer options: You might consider transferring your RA to another RA provider. Always compare fees and benefits before making a decision.

Remember, an RA is designed for long-term savings so that you can reap the reward in retirement.