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Pension Benefits

Staff Retirement Plan

The IMF's Staff Retirement Plan (SRP) is designed to provide replacement income to allow you to maintain a reasonable standard of living during retirement. Participation in the plan is mandatory for staff on open-ended appointments and optional for staff on fixed- or limited-term appointments for a period of two or more years. The SRP is a contributory defined benefit plan, meaning that you must contribute as a condition of participation.

At your separation from the Fund, the plan provides you with either a lifetime pension annuity (with cost-of-living adjustments) or a lump-sum withdrawal benefit, depending on your age and years of service. Other benefits such as death benefits, disability pensions and childrens' benefits are also part of the plan.

Lifetime pensions are payable starting at age 50 with a minimum of three years of service. The normal retirement age is 62 and any pensions starting earlier are subject to early retirement penalties.

The benefits payable are governed by the provisions of the plan and are not directly linked to the accumulated value of contributions made to the plan by the staff or the Fund.

Contractual Retirement Plan

The IMF's Contractual Retirement Plan is a pre-tax savings plan with employer contribution (401K). It allows eligible contractual employees to save for their retirement by payroll deduction. All participants with one year of continuous service receive contributions from the Fund equal to 5 percent of their salary regardless of their own contributions. You are vested immediately and may choose to invest the money in your CERP account among a variety of investment options.