Conditions for using an annuity as an early retirement benefit

The conditions are as follows:

• you have taken out the annuity as a private individual or through your employer
• the annuity is to be used as an early retirement benefit
• you work for yourself or someone else, or a combination of the two
• you stopped work partly or completely on or around the commencement date of the benefit
• the annuity is to be used as an early retirement benefit after you stop work
• the duration of the benefit was determined at the time the policy was taken out. The benefit cannot be used for other purposes
• the duration of the benefit was determined before 1 January 2016
• a termination or reduction of the benefit would result in a loss of income