Annuities
The participant becomes suitable and receives a private pension on the day in which fulfills the terms of retirement in the public system.
The participant, whose net asset value of the account is insufficient to permit payment of a minimum private pension, as determined by the Commission, receives an amount given once or periodical a sum for a period up to 5 years, as requested.
From the day of retirement on the grounds of permanent disability, according to Law 19/2000 on the system of private pensions and other social insurance rights, modified and approved, the participant can obtain:
- An amount paid once or periodical, for a period up to 5 years if the net asset value of the account is insufficient to permit payment of a minimum private pension;
- A private pension if the net asset value of the account is sufficient.