Maximise your tax deductions this tax season
Change the way you think about retirement and tax
With people living longer, we are probably going to need more savings than anticipated. Investing more towards your retirement is one of the best ways to close your retirement savings gap and have enough money to retire comfortably.
Increasing your retirement savings will not only improve your retirement outcomes but can also significantly reduce your taxes. You can claim a tax deduction of 27.5% of your taxable income or remuneration, to a maximum of R350,000 a year.
Get rewarded for healthy investment and lifestyle choices with boosted investment returns
When you invest in a Discovery Retirement Annuity, you can get rewarded for investing for longer, investing more and living well. Combining these rewards with your positive behaviour change could double your retirement outcome2.
- Get a boost of up to 20% on your lump-sum investments. You can get more offshore exposure by investing your boost offshore in UDS. With our current offers, new lump-sum Retirement Annuity clients can get a higher boost of up to 27.5%1.
- With our current offer, existing lump-sum Retirement Annuity clients can get an enhanced boost on extra contributions of up to 25%2.
- Get a boost of up to 15% on each monthly contribution for achieving your Vitality statuses and Vitality Active Rewards goals on Recurring Retirement Annuities.
Lump-sum Retirement Annuity brochure Recurring Retirement Annuity brochure Reasons to invest in our Retirement Annuities
Important: To qualify for tax deductions in the 2022/2023 tax year, you must make sure that all documentation is with Discovery Invest by 24 February 2023
Educational content to help with decision making
Is saving for retirement a blip on your radar, or is it a worry that keeps you up at night? Either way, when you understand how relevant saving for retirement is, you'll be enabled to make the right decisions, and reap the peace of mind that it brings. Get to the bottom of retirement basics.
Getting started
Staying on the course
Tasting success
1 Offer valid until 30 June 2023 - rules, terms and conditions apply.
2. Offer valid until 23 February 2023
2 Analysis done by Discovery Invest Technical Marketing in September 2022. Based on average client behavior change seen in internal data before and after behavioral incentives were launched. Example is for illustrative purposes and not guaranteed, actual results may differ.
Nothing contained in this document should be construed as financial advice. For any advice?related matters please contact your financial adviser. Discovery Life Investment Services Pty (Ltd), registration number 2007/005969/07, branded as Discovery Invest, is an authorised financial services provider. All life insurance products are underwritten by Discovery Life Ltd, registration number: 1966/003901/06, a licensed and authorised financial service provider and registered credit provider, NCA Reg No NCRCP3555. All boosts are offered through the insurer, Discovery Life Limited. The insurer reserves the right to review and change the qualifying requirements for boosts at any time. Product Rules and Terms and Conditions Apply.