RPSM09300010 - Scheme Administrator Pages: Member benefits: Overview

Overview

Benefits from money purchase arrangements are calculated by reference to the capital amount of money that has been made available on the member’s behalf. This is sometimes known as the ‘member’s pot’. As scheme administrator you will be responsible for informing the member of the various options that are available to them for taking their benefits and in certain circumstances paying the pension until death.

You should note that not all of the following methods of drawing benefits will be available and close attention must be given to the rules of the scheme. For more details on the payment of benefits you should check the Technical Pages of this manual.