To this end, please note the following:
- The enhancement exercise will affect only retirees on PW who retired between July 2007 and December 2017 and have significant growth in their retirement savings account (RSA);
- The retirees’ RSA balance (excluding voluntary contributions and pre-act contributions) as at 31st October, 2019 will be used to determine the pension payable;
- Payment of pension arrears will commence after the kick off of the pension enhancement exercise;
- All affected retirees are required to complete and sign a pension enhancement consent form.