Under the law, we must try to pay out your savings as you approach the age of 70. However, you may choose to defer the payouts and leave your savings in your LD Account as before.
You will receive a letter from The Cost-of-Living Allowance Fund, in which we provide information about the payouts and the option to defer them.
Payouts will be attempted every five years thereafter
If you choose to defer your payouts, we will endeavour to pay out your savings to you every five years after you turn 70. Each time, you will be offered the option to defer the payouts for your LD Savings.
Your savings are not tied up
You are not obliged to leave your savings in the account for a longer period, even if you have deferred the payouts. When you need your money, you can request a payout of your savings at any time.
