The Retirement Annuity is a unit trust investment geared towards retirement savings.
- Liquidity and Flexibility: Can invest any amount but cannot withdraw the funds before the age of 55. After age 55, up to 1/3rd can be taken in cash the remainder must be used to purchase an income.
- Taxation: Tax-free within the Retirement Annuity and contributions, up to a limit are tax deductible which means it reduces your tax payable. Tax is applicable upon retirement.
- Impact of Death: No estate duty or executor's fees will apply on death. Upon death the trustees of the fund will distribute the funds to your dependants.
- All the funds available for a Retirement Annuity are compliant with Regulation 28 legislation
Debit order start dates
- The soonest we can debit your account is 5 working days and the longest is 3 months should you wish to only start saving in a short while.
The maximum daily debit order allowed is R1,000,000.
Fund minimum payments
- Each fund has an investment minimum of R500. To add another Fund please increase your regular payments by R500 increments.
Lump Sum minimum payments
- The minimum 'once-off' investment amount is R10,000.
Recurring debit orders
- Recurring payments may be increased, decreased, stopped and restarted at any time, without penalties being applied.