These are retirement products regulated by Retirement Benefits Authority (RBA). The products offer a vehicle to save for retirement where funds earn compounded interest from the providers. The funds are very securely regulated and managed.
At retirement, 1/3 of Pension funds goes into purchase of annuity while the 2/3 is paid out as lumpsum.
On the other hand, Provident fund pays 100% of the funds to the retiree.
- Trip cancellation or interruption
- Baggage and personal item loss
- Trip delays
- Lost or delayed baggage
- Accidental medical expenses
- Accidental injuries
- Death
