Account Information



Select Withdrawal

 


Date Payments Start


When you retire, one of your options for receiving your pension income is the drawdown option from your individual prescribed retirement product. For Bermuda registered plans, withdrawals are taken over your lifetime subject to both a minimum and maximum withdrawal rate calculated in accordance with pension legislation.

The Retirement Drawdown Tool shows the payments that you would get based on your account balance, retirement age and expected rates of return. Note that the account balance is paid to your beneficiary on death.

Steps to Follow

Complete the information and click the Results button to see how long annual withdrawals from your pension account may last over the period of your retirement. Your current balance earns investment income at the expected rate of return. You can choose to increase withdrawals each year by the rate of inflation.

Adjust any amount and your results will automatically be refreshed.

Expected Annual Rate of Return

Rate of return 


Drawdown Years 
 years

Annual Cash Flow Summary


YearBalanceWithdrawalMin %Max %Earnings
2021100,0000--5,000
2022105,0000--5,250
2023110,2500--5,512
2024115,7620--5,788
2025121,5508,5084.00%7.00%5,867
2026118,9098,3244.17%7.00%5,740
2027116,3258,1434.35%7.00%5,615
2028113,7977,9664.55%7.00%5,493
2029111,3247,7934.76%7.00%5,374
2030108,90510,8905.00%10.00%5,176
2031103,19110,3195.26%10.00%4,905
203297,7779,7785.56%10.00%4,647
203392,6469,2655.88%10.00%4,404
203487,7858,7786.25%10.00%4,172
203583,1798,3186.67%10.00%3,954
203678,8157,8827.14%10.00%3,746
203774,6797,4687.69%10.00%3,550
203870,7617,0768.33%10.00%3,363
203967,0486,7059.09%10.00%3,187

Drawdown of Pension Savings

This chart shows the expected value of the account each year in the future and the effect of drawing down pension savings, based on the expected rate of return.

Use of Savings during Retirement

This chart shows the portion of the assets that are from the starting balance in the account and the portion that is from expected investment income.