The Board and Trustee have completed amendments to the CINSF Trust Deed to provide members with the ability to withdraw funds from their voluntary account and provide for the voluntary account to continue to be used by members after collecting a pension benefit.
Members can now choose to make 1 free withdrawal per calendar year from their voluntary account. Applications for withdrawals can be made through the CINSF office, and the processing time will depend on the amount being withdrawn, i.e. full voluntary account withdrawals will take longer to process if a members funds are still being processed through the contribution phase.
For members with funds in their voluntary account at the time of electing to receive a pension benefit from the Fund, those members will now have the option to continue to use the voluntary account. This feature will only be available to members with funds in the voluntary account when electing a pension benefit.
The Trust Deed amendments were completed by DLA Piper, and a copy of the amended Trust Deed is attached below:
