As this money would have to last you for the rest of your life, it is important that you don’t take any decision at retirement lightly. If you are age 60 or older, your exit will be treated as a normal retirement. If you are between 55 and 59, your exit will be treated as an early retirement, unless you elect to be treated as a withdrawal.
If you are 60 or older, your normal retirement age is your age when you cease to be a Councillor. A Councillor can become a member at any age.
Consequently the higher your contributions the higher the return. This means that contributing at 28.75% instead of 15% of your salary, your retirement benefit at retirement will have grown by a very high margin. The more money you save the higher the growth in interest.