Yes, you can delay your decision for a period of up to 36 months.
If you have less than 5 years of contributory service with the Fund…you can delay your payout of a withdrawal settlement for a period of up to 36 months. If you have 5 or more years of contributory service with the Fund you can delay your choice of benefit (a withdrawal settlement or a deferred retirement benefit) for a period of up to 36 months. Should you re-join the Fund within the 36-month deferment period from your date of separation from service, your participation will be deemed to have been continuous (provided that no benefit has been paid to you). The period in between your date of separation and of re-entry into Fund participation will be considered a period of break-in-service, which cannot be made pensionable. However, if you do not re-join the Fund, you must submit your benefit election and payment instructions on the according form to the Fund at the latest by the end of the 36 months deferment period.
PENS.E/6 for less than 5 years of contributory service
PENS.E/7 for more than 5 years of service
If you have less than 5 years of contributory service and fail to submit your payment instructions form within 36 months, this may lead to eventual forfeiture of your benefit, if after another 24 months no claim has been brought forth. If you have 5 or more years of contributory service with the Fund and fail to submit your benefit election and payment instructions to the Fund within the 36-month deferment period, the Fund will automatically deem you to have elected a deferred retirement benefit.
