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
2022100,0000--5,000
2023105,0000--5,250
2024110,2507,7184.00%7.00%5,322
2025107,8547,5504.17%7.00%5,206
2026105,5107,3864.35%7.00%5,093
2027103,2177,2254.55%7.00%4,982
2028100,9747,0684.76%7.00%4,874
202998,7809,8785.00%10.00%4,695
203093,5979,3605.26%10.00%4,449
203188,6868,8695.56%10.00%4,215
203284,0328,4035.88%10.00%3,994
203379,6237,9626.25%10.00%3,785
203475,4467,5456.67%10.00%3,586
203571,4877,1497.14%10.00%3,398
203667,7366,7747.69%10.00%3,220
203764,1826,4188.33%10.00%3,051
203860,8156,0829.09%10.00%2,891

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.