World Aquatics has announced the launch of a Post-Career Compensation Fund, with an initial investment of $10 million USD.
“We know that athletes face real challenges once their careers come to an end – it’s a major change in their lives and often in their income too,” said World Aquatics President Husain Al Musallam in a press release this morning. “We have spoken with many athletes who have helped us better understand that their real financial difficulties begin once they retire. Our aim is to ease that transition wherever we can, and financial support is one of the most important routes through which we can help.”
Per World Aquatics, the fund will encompass a lump sum payment to athletes upon their retirement from aquatics, with the amount paid based on “sustained participation in World Aquatics events throughout their career and contributions tied to prize earnings.”
Each sport has its own qualification criteria, with athletes only being eligible if they compete in 80% of events organized by World Aquatics over a four-year period.
Click here to view the criteria for all aquatic sports.
For swimming, World Aquatics counts World Championships (both short course and long course; World Juniors does not count) and World Cup stops toward the 80% threshold. Athletes earn “participation points” at each event, with each World Cup stop worth half a point and each World Championship meet worth two points.
During an initial qualification period, athletes who accumulate 80% of the maximum available participation points become “Qualified Athletes,” at which point World Aquatics contributes 10% of their prize earnings into a personal fund. After that initial four-year period, World Aquatics contributes 5% of yearly prize earnings going forward, with no minimum participation requirement. Prize money for world records, bonuses, or awards like Athlete of the Year do not count toward those earnings calculations.
To access the money, a qualified athlete must formally notify World Aquatics of their retirement in writing, then wait one full calendar year, and no earlier than January 1, 2030. Athletes who retire, withdraw their funds, and later return to competition must restart the qualification process from scratch.
Case Example
Courtesy: World Aquatics
