Namibia: Retirees Now Able to Withdraw N$375 000 From Pension Funds

Minister of finance and social grants management Ericah Shafudah has increased the amount of money retirees can withdraw from their pension funds to N$375 000.

This is one of the policy changes the minster announced during the tabling of the national budget in Windhoek on Thursday.

Previously, retirees were limited to a N$50 000 lump sum withdrawal from their retirement funds.

“Increasing the retirement funds single commutation threshold will provide relief for senior citizens,” said Shafudah.