May 10, 2017 21:16 Updated Follow No. If you're eligible to receive a pension benefit when you retire, you will receive this benefit for life. Related articles Which PERF plan option should I choose? When should I start thinking about planning for retirement? Why has my account stopped earning interest? What is my Annuity Savings Account? Will my PERF or TRF benefits interfere with product discounts offered by other retirement associations or services?