1.1. Monthly Pension

• i. If, by the time the contributor reaches 60 years of age, they have paid the total amount payable (100%) for the agreed pension plan, the full pension will be paid monthly from age 60 for the rest of their life.
• ii. If, by the time the contributor reaches 60 years of age, they have paid more than 25% of the total amount payable for the agreed pension plan, an adjusted monthly pension based on the net balance available in the account will be paid according to the contributor's preference.

1.2. Spousal Pension Entitlement

1.2.1. In the event of the contributor's death before age 60

If a contributor's death occurs before the age of 60, instead of withdrawing the net contributory amount, one of the following options can be selected depending on the circumstances:

• i. If the total payable amount has been fully paid by the contributor at the time of death, the spouse or nominated heir is entitled to receive the monthly pension from the time the contributor would have been 60 up to 80 years of age.
• ii. If more than 75% of the total payable amount has been paid at the time of the contributor's death, the spouse or nominated heir is entitled to receive an adjusted pension, or the full agreed-upon pension by paying the remaining installment amount, from the time the contributor would have been 60 up to 80 years of age.
• iii. If between 25% and 75% of the total payable amount has been paid at the time of the contributor's death, an opportunity is provided to pay the remaining installments to reach 75% or more of the payable amount. This enables the spouse or nominated heir to receive a monthly pension from the time the contributor would have been 60 up to 80 years of age; or
• iv. In such an instance, utilizing the net contributory amount owed to the contributor's successors, a new pension plan can be initiated in the name of the spouse or successor, maintaining it as a standard plan to receive benefits under the pension scheme.

1.2.2. In the event of the contributor's death between ages 60 and 80

If the contributor passes away as a pensioner (between the ages of 60 and 80) before completing 80 years of age:

• i. The spouse or a nominee designated by the contributor will receive the monthly pension until the time the contributor would have reached 80 years of age.
• ii. If there is no spouse or nominee, the successors of the contributor can withdraw the net contributory amount and interest deposited in the contributor's name.

1.3. Death Gratuity

• i. To cover funeral expenses for a contributor who passes away prior to retirement (before age 60), a fixed amount of Rs. 100,000.00 will be paid across any age category.

1.4. Permanent Partial Disability Benefits

• i. An amount of Rs. 100,000.00 will be provided as a partial disability gratuity.
• ii. The contributor has the option to exit the scheme by withdrawing the above gratuity along with the net contributory amount and interest; or
• iii. The ability to receive only the gratuity amount and continue paying installments to receive the pension from age 60.
• iv. If more than 25% of the payable amount has been paid by the time the disability occurs, the contributor has the option to receive an adjusted monthly pension from age 60 for the rest of their life based on the account balance, without having to make future installment payments.

1.5. Permanent Total Disability Benefits

• i. If the contributor suffers a permanent total disability before retirement, they can receive a one-time total disability gratuity of Rs. 500,000.00 and a monthly pension paid from the date of disability until the end of their life.
• ii. In such an instance, future installments payable by the contributor will not be charged.

1.6. Educational Benefit Cover

An optional additional cover providing benefits for the children of contributors, or children under the guardianship of contributors, can be linked to the pension plan.

1.6.1. Included Benefits

Under this additional cover, a financial allowance can be obtained for children's educational activities and related expenses, or any other financial need. The limit of the benefits can be determined according to the contributor's paying capacity. Accordingly:

• i. A monthly allowance can be received for a period of 5 consecutive years while the children are between the ages of 18 and 29. An annually increasing monthly benefit will be paid for 5 consecutive years starting from the year the benefit commencement begins.
• ii. An annual allowance can be received for a period of 5 consecutive years while the children are between the ages of 18 and 29. An increasing annual benefit will be paid for 5 consecutive years starting from the year the benefit commencement begins or
• iii. A lump sum benefit for the relevant year can be obtained while the children are between the ages of 18 and 29.
• iv. If a contributor who obtained this cover expecting monthly, annual, or lump sum benefits later requests to receive the agreed benefits in a different manner, adjustments will be made according to the account balance, and the benefits will be paid accordingly.

6.2. Eligibility for Membership

• i. This cover can only be obtained for the children of contributors, or children under the guardianship of contributors, who are enrolled in a new surekuma pension plan implemented by the Board.
• ii. The child's age at their next birthday must be between 1 and 15 years.

6.3. Premium / Installment Amount

• i. Contributors must pay an additional premium for this cover. The additional cover can be obtained for any value based on the requirement and can be obtained separately for individual children.
• ii. The premium is charged based on the expected benefit value when the child reaches age 18. Benefits can be applied for between the child's 18th and 29th years.
• iii. In the event of the death or permanent total disability of the guardian while the membership is active, premium payments will cease, but the agreed benefits can be obtained as they are without any future premium payments.
• iv. If payments for the additional cover are stopped, the net contributions paid up to that point will be refunded. To receive this without a late interest fee penalty, at least Rs. 50,000 or 25% of the total premiums must have been paid.
• v. Premiums must be paid until the child reaches 18 years of age.
• vi. Premium payments for this additional cover must be completed before the contributor's primary account matures.
• vii. When a contributor who has obtained this cover makes their designated premium payment, priority will be given to covering the premium applicable to the primary pension plan.
• viii. Payments made for the additional cover to confirm the contributor's pension entitlement can be transferred between cash accounts upon the contributor's request, when necessary.

6. Available Methods for Making New Premium Payments for the Pension Plan

Contributors have the ability to pay premiums for the pension plan according to the following methods.

• i. Lump sum payment.
• ii. Monthly installments (from the date of membership until completing age 59).
• iii. Quarterly installments (from the date of membership until completing age 59).
• iv. Payment within 2 years through monthly (24), quarterly (8), and annual (2) installments.
• v. Payment within 3 years through monthly (36), quarterly (12), and annual (3) installments.
• vi. Payment within 4 years through monthly (48), quarterly (16), and annual (4) installments.
• vii. Payment within 5 years through monthly (60), quarterly (20), and annual (5) installments.
• viii. Payment within 10 years through monthly (120), quarterly (40), and annual (10) installments.
• ix. Payment within 15 years through monthly (180), quarterly (60), and annual (15) installments.