Retirement Investing

Classic Retirement Annuity Fund

Overview

A retirement annuity is a product designed to help you save for retirement. The solution is ideal if you are self-employed without an employer pension, or if you want to increase how much you are putting away to retire.The product caters for those who need flexibility when it comes to making contributions, and offers meaningful tax incentives, with some limited access to your savings before you retire.

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Product brochure

Product information

Retirement Guide

Two-Pot Guide

What does it offer you?

Flexibility: Invest once off whenever you choose to, make regular monthly or annual investments by debit order; transfer money from another retirement annuity to us.

Start, change, or stop your regular contributions at any time, without worrying about being charged a penalty.

Contributions are tax deductible (up to a limit), so the amount you invest can be subtracted from your taxable income for the year.

From 1 September 2024, one third of all new contributions to a retirement annuity fund are allocated to a "Savings Component" which may be cashed out once a tax year. The remaining two thirds of contributions are allocated to the "Retirement Component" which cannot be cashed out before or at retirement, and must be used to purchase an annuity to provide you with an income in retirement.

There is a wide range of investment portfolios to choose from for your investment, including Unit Trusts, Model Portfolios and Share portfolios, and you can change your selection whenever you want to, free of charge.

To give your savings the best chance to grow, your investment returns are exempt from Capital Gains tax, Income tax on interest, Dividend tax and REIT tax.

This product is exempt from estate duty and executor’s fees.

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A minimum investment amount of R 25 000 and/or R500 per month/R6000 per annum applies.

Application form

Classic Preservation Plans

Overview

Did you know that if you want to retire at 65, the general rule of thumb is that you’ll need to save up to 17 times your annual salary. So, while it is tempting to cash out your pension when you change jobs, doing so could significantly delay your retirement.
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Our Preservation Plans allows you to transfer and save the money you receive from an employer pension or provident fund when you leave a job, and keep your retirement plans on track. A preservation solution helps you to be disciplined when it comes to giving your retirement savings time to compound and grow. You can access portions of your investment in cash before you retire, but apart from this, can only access your savings at retirement from the age of 55.

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Product brochure

Classic Preservation Pension Plan Product Information

Classic Preservation Provident Plan Product Information

Retirement Guide

Two-Pot Guide

What does it offer you?

The money you transfer into the solution will not be taxed on transfer.

To help to increase your savings at retirement, your investment returns are exempt from Capital Gains tax, Income tax on interest, Dividend tax and REIT tax.

From 1 September 2024, one third of all new contributions to a retirement fund are allocated to a "Savings Component" which may be cashed out once a tax year. The remaining two thirds of contributions are allocated to the "Retirement Component" which cannot be cashed out before or at retirement, and must be used to purchase an annuity to provide you with an income in retirement.

This product is exempt from estate duty and executor’s fees.

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A minimum investment amount of R 25 000 applies.

We accept transfers from:

An employer Pension Fund or Provident Fund, which becomes due to you when you leave the company
The Government Employees Pension Fund
Another Preservation Pension Fund or Preservation Provident Fund
The proceeds of a divorce settlement from another Pension or Preservation Pension Fund

Application form

Classic Linked Life Annuity

Overview

The Classic Linked Life Annuity is issued and underwritten under Liberty Group Limited a registered Long- term Insurer and an Authorised Financial Services Provider (FAIS No 2409).This solution provides a regular income in retirement and offers flexibility, transparency and choice. You can choose how much income you want to receive (within legislative limits), how often you would like to receive an income payment, and what portfolios your money is invested in.

A living annuity solution may suit you if you require flexibility when it comes to your regular income amount; and if you wish to leave money to your family or friends when you pass away. This product may not be suitable for retirees who require a guaranteed income for life. You as the investor bear the investment risk, and there are no guarantees. The level of income you select is not guaranteed for the rest of your life, it is your responsibility (in consultation with your financial adviser) to ensure that the income that you select is at a level that would be sustainable for the rest of your life.

Want to know more?

Product brochure

Product information

Retirement Guide

0860 123 003

[email protected]

What does it offer you?

You can specify the income you want to receive, between 2.5% and 17.5% (the current legislative limits) per annum of the value of the annuity policy. You can adjust this drawdown limit once a year.

You have the option to be paid monthly, quarterly, bi-annually or annually, and can adjust this once a year when you review your drawdown income levels.

There is a wide range of investment portfolios to choose from for your investment and you can change your selection whenever you want to, free of charge.

Income tax will be deducted from your annuity income before it is paid out to you, in accordance with income tax legislation. To help your savings to last, your investment returns are exempt from Capital Gains tax, Income tax on interest, Dividend tax and REIT tax.

If you pass away, any money remaining in the annuity policy will be paid to your nominated beneficiaries, and if you have nominated beneficiaries will not form part of your estate and will not be subject to estate duty tax or executor’s fees

You may not withdraw from the annuity policy in addition to your annuity income unless the value of the policy is below the legislated minimum amount of R125 000, in which case a full withdrawal may be requested. Withdrawals will be subject to income tax.

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A minimum investment amount of R 50 000 applies.

You can invest money which you have saved for your retirement via Pension or Provident Fund, Retirement Annuity Funds or Preservation Fund, and you may transfer your existing Living Annuity policy to us from another insurer.

Application form

Disclaimer: The Classic Linked Life Annuity is underwritten by Liberty Group Limited (registration number 1957/002788/06), a registered Long-term Insurer and an Authorised Financial Services Provider (FAIS No 2409).