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
