June 10, 2017 01:08 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? What is my Annuity Savings Account? Why has my account stopped earning interest? Will my PERF or TRF benefits interfere with product discounts offered by other retirement associations or services?