An RSA holder who retires from age 50 under the terms and conditions of employment in the Federal Public Service or Private sector organisation can opt for any or a combination of the following benefit options as allowed under the Act or in line with the Regulations for the Administration of Retirement and Terminal Benefits:

• En-bloc Payment - where RSA balance is less than N550,000.
• A lump sum of the amount standing to the credit in his / her RSA provided that the amount left after the withdrawal is sufficient to procure an annuity or programmed withdrawal that will produce an amount that should not be less than 50 percent of his/her annual remuneration as at the date of retirement.
• Programmed Withdrawal - a series of regular payment (monthly or quarterly) based on the retiree's expected life span (otherwise known as guaranteed pension period).
• Annuity purchased from a licensed Life Insurance Company.

Requirements for Accessing Benefits at Voluntary or Mandatory Retirement

1. Official notice of retirement from last employer
2. Last pay-slip not less than three(3) months from the date of retirement (stamped and signed by employer) or any evidence of last annual remuneration.
3. Certified true copy of the retirement bond certificate (Public Sector Retiree).
4. Evidence of any accrued pension entitlements  not remitted into the RSA (Private Sector/Self Funding MDA retirees)
5. Confirmation of any contribution owed by employer (Private Sector/Self Funding MDA retirees)
6. Official evidence of the terms and conditions of employment
7. A duly completed ARM Retirement Withdrawal Form
8. Two passport photographs
9. Completed Programmed Withdrawal Agreement and Retiree Indemnity Form (deposed to before a commission of oath or notary public)
10. Birth Certificate/Age Declaration (Private Sector/Self Funding MDA retirees)
11. Photocopy of any form of identification (i.e. Driver's license, National ID etc.).