Pension Benefit Choice. The Client has chosen a pension benefit specified in Art. 1 of this Agreement for the selected sub-account. If the Client has multiple sub-accounts open that allow for multiple types of retirement benefit payouts, the Client shall choose a type of pension benefit for each sub-account. The Client may change the form of retirement benefit payments free of charge for each sub-account opened: - one year before the start of the payout phase, - at the beginning of the payout phase, or - on a change of PEPP provider.
