Public Service Pension Fund: Benefits

Cherishing your Golden Years.

Pension Office

JRW Building, The Valley, Anguilla
Phone

+1 264 498 5079
Mon - Fri 08.00 - 16.00

Saturday & Sunday Closed

Loans

gratuity Details

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gratuity Details

Details About gratuity

Gratuity is a one-time lump sum payment made to Contributors who have at least 10 years of service. Gratuity is normally paid at retirement but can be paid when a Contributor resigns having 10 or more years of service. In the case of resignation, the gratuity is discounted based on the number of years left to retirement.

Criteria

Must have at least 10 years of continuous service
Hold a pensionable post
Contributed to the pension fund
Normal Retirement Age is 60, if appointed before January 1, 2004 and
65 years, if appointed on or after January 1, 2004

Key Terms

Pension - monthly payments only

Gratuity Reduced Pension - one-time lump sum payment and a reduced monthly payment

Discounted Gratuity Reduced Pension - one-time discounted (based on years to normal retirement age) lump sum payment and a reduced monthly payment

Pensionable Emoluments - Annual Salary

Payment of Benefit & Other Information

Pension payments begin to accrue on the day following the last day of service and are paid in arrears in monthly installments. Deferred pension payments begin when the normal retirement age is attained.

Pension payments are made on the 29^th day of each month. Exceptions are for the months of February and December. February payments will be made on the 28^th and December payments on the 20^th. If the scheduled payment date falls on a weekend or holiday, payments will be made on the closest working day.

Key Documents

Appointment Forms
Contribution Forms