What are the VPB payment options?
You can schedule regular payments, request lump-sum payments, or do both. • The maximum you can withdraw is your total account balance. • There is no minimum withdrawal required prior to age 72. • All VPB payments are made electronically directly to your bank account (Electronic Fund Transfer). Scheduled payments: • You can schedule regular payments to be paid to you each month or annually; • Scheduled payments are made on the last banking day of the month; • The minimum for a scheduled payment is $100.00 (before tax). Lump-sum payments: • Lump-sum payments can be requested at any time; • Lump-sum payments are processed within five business days; • The minimum amount for a lump-sum payment is $100.00 (before tax); • You are allowed one free lump-sum payment per fiscal year (April 1 – March 31). A fee of $45.00* is charged for each additional lump-sum payment request. *Fees are subject to change.
