In applying for a national old-age pension, a member of the Tier 2 pension may use the capital accrued at Level 2 for the purchase of a life-saving pension policy. If a member of the Tier 2 pension has entered into a lifetime pension insurance agreement with a licensed insurance company which offers life pension insurance services, the State Social Insurance Agency shall transfer the accrued capital of the member to that insurance company.
Service requests
In order to request a service, a national old-age pension must be required.
Receipt of services
A person may receive a statement regarding the possibilities for the capital cost of the State funded pension scheme and information regarding the transfer of the life pension insurance premium:
• on-site;
• by post to the address of the declared place of residence.