Minerva Income Withdrawal Fund is a self-administered income draw down Fund that was set up with the objective to provide pension income for members and dependants who transfer their capital from any registered Pension Fund on retirement, retrenchment or death.
As a pension drawdown Fund, the Minerva Income Withdrawal Fund is a way of using
Members’ pension pot to provide one with a regular retirement income by reinvesting it in a drawdown Fund that is specifically designed and managed for this purpose. This allows
Members to draw income from their pension while keeping it invested in a favourable taxenvironment. The income that one gets will vary depending on the Fund’s performance.
With the Minerva Income Withdrawal Fund, Members keep their pension savings
invested when they reach retirement and take money out of, or 'drawdown' from, their
pension pot in the Fund.
Minerva Income Withdrawal Fund affords the Members the control and flexibility to take
variable withdrawals directly from the Fund, so the amount and frequency of one’s
withdrawal can change from time to time to suit one’s circumstances. For example, over
and above the 1/3 full commutation, a member can elect to his or her monthly pensions
monthly, quarterly or drawdown year’s pension in advance.