Section 33 of the Public Service Pensions Act number 35 of 1996 stipulates 60 years as the mandatory retirement age of a public servant. It is thus your responsibility to remind your employer of your impending retirement at least six months in advance. This helps to ensure that the processing pertaining to the payment of your pension benefits is commenced without undue delay.
(i) Unreduced Pension
Â The product of this formula is known asÂ Unreduced Pension.Â According to Pensions Act 35 of 1996.
Â (ii) Gratuity
2/3 x Unreduced Pension x Age factor (25.84 for 55 years)
An officer can only commute a maximum ofÂ two-thirds of the unreduced pensionÂ Â for his/her gratuity.