A retirement savings scheme is typically paid out as a lump sum, which you can spend whenever you want. That way, you can receive a larger amount instead of regular benefits. You can also choose to have your savings paid out in several smaller portions – and still make contributions to the scheme.
Retirement savings are paid out as a lump sum – or in smaller portions. That way, it is up to you how you want to spend your savings, giving you the freedom to invest in larger items.