• The Scheme is sponsored by Pioneer Assurance company.
• The scheme has both Pension and Provident option.
• The Pension option pays a 1/3rd of accumulated benefit as a lump sum whereas the remaining 2/3rd is considered for the purchase of an annuity or income draw down
• The Provident option pays the full accumulated benefit as a lump sum.
• This is the easier option for employers with no intention of registering own schemes.
