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Pivotal age is not the only factor

I do not feel that the pivotal age is the only factor which should be

taken into account in recommending whether one should or should not

contract out of Serps. For example, there are several other factors that

are highly relevant:

1. If one were single, contrac-ted in and died even one day before their

official age of retirement, all of their Serps pension earned would be lost

to the State. The effect of premature death benefits the State.

2. If contracted out, the benefits can be drawn com-mencing between the

ages of 60 and 75, thereby providing for much greater flexibility.

3. Pension fund withdrawal is available. That could provide more options

in the event of death during retirement prior to age 75.

Therefore, the recomm-endation should not be made based on the pivotal age.

Lachu Bharwaney

Client Care Financial Services,



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