Retire Strong with Discovery
Invest
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Retire strong, plan for a longer life
A longer life means more time for what matters most. It also means your retirement savings may need to last longer than ever before.
Retire Strong with Discovery Invest is built for this new reality. It brings together retirement savings solutions, retirement income solutions, financial adviser support and longevity insights. It can help you plan for a retirement that could last decades.
Depending on the solution you choose, you may qualify for benefits by:
- Starting early
- Staying invested
- Investing more
- Living well and engaging in healthy behaviours
- Withdrawing wisely in retirement.
RETIREMENT PLANNING FOR LONGER LIVES
Why has retirement
planning changed?
A longer life gives you more years to look forward to and more years to plan for. Three important realities shape Retire Strong.
Retirement could last
25 to 35 years
Many people may spend two to three decades in retirement, making it important to plan for an income that needs to last longer.
Health shapes your finances
Your health, investment behaviour and withdrawal choices can affect how sustainable your retirement income is over time.
Your retirement income needs to last
A retirement income strategy should help you maintain your lifestyle throughout retirement.
DISCOVERY'S SHARED-VALUE MODEL
How does Discovery Invest help
you retire stronger?
Retire Strong applies this shared-value thinking to retirement in four ways.
Designed for longer lives
Discovery Invest designs solutions for retirements that could last decades, so your income can outlast your years in retirement.
Rewards how you invest and live
Selected solutions reward responsible investment behaviour, and looking after your health can add further value.
Connects saving and income
A retirement savings solution and a retirement income solution are two distinct solutions, shown as one journey. How you save shapes the income you draw later, and your adviser connects the two at the right time.
Works alongside your adviser
Using these solutions, your adviser can tailor your plan to your life, your goals and the retirement you aspire to.
BEHAVIOUR AND RETIREMENT OUTCOMES
Which behaviours can improve your retirement?
Small, consistent actions may add value over time, depending on the solution you choose and its product rules.
Stay invested
Staying invested for longer may help you qualify for benefits on selected retirement solutions.
Invest more
Increasing your contributions may help you qualify for Contribution or Investment Boosts.
Withdraw wisely
Sustainable withdrawals may earn Income Boosts. Achieving a higher Vitality status can increase the boost you qualify for.
Live well
Qualifying health engagement may increase the value available through selected retirement savings or income solutions.
RETIREMENT SOLUTIONS BY LIFE STAGE
Which retirement solution fits your life stage?
Your retirement needs change over time. Explore solutions for building retirement savings, preparing for retirement or drawing an income. Wherever you are in your retirement journey, there is a solution designed for you.
You can save regularly, or invest a once-off amount, and adjust as your circumstances change. The Discovery Retirement Optimiser links your retirement annuity to a qualifying Discovery life or health plan for added value overtime.
DRO Discovery retirement Optimiser
A recurring retirement annuity linked to a qualifying Discovery life plan, or to a qualifying health plan and Vitality as DRO | Health. Staying invested and staying engaged builds added retirement value over time, including an enhancement at retirement.
Flexible Recurring Retirement Annuity
Save through a flexible structure combining recurring and once-off investments and qualify for:
1. Recurring Contribution Boosts of up to 10%
2. Lump-sum Investment Boosts of up to 20%
3. Boosts of up to 25% on all additional lump-sum contributions.
Lump-sum Retirement Annuity
Invest a lump sum and qualify for an Investment Boost of up to 20% for investing longer. Add an additional amount and qualify for a boost of up to 25% for investing more.
More options
I'm approaching retirement
As retirement gets closer, the focus shifts from building your savings to creating an income that can support your lifestyle throughout retirement.
Your financial adviser can help you:
- Understand how much you have saved
- Determine how long your savings may need to last
- Consider a sustainable income strategy
- Review your investment approach and attitude to risk
- Understand how your savings and Vitality engagement may influence future income-related benefits
I'm withdrawing a retirement income
Now the goal is making your income last, comfortably, for as long as you need it.
You can turn your savings into income through a living annuity and a specially designed fixed annuity. You will be able to get income boosts of up to 50% and guaranteed income will be payable from the guaranteed future income date, which is the later of age 80, and 15 years from the start of the investment. This is done through the purchase of a specially designed Fixed Annuity included in the Lifespan Linked Income Plan. The Fixed Annuity will also provide smaller monthly income payments from the start of the investment until the guaranteed future income date.
RETIREMENT CONTENT FOR YOUR GOALS
Where can you learn more about
retirement?
Whether you're building your retirement savings or planning how to draw an income, these guides can help you make informed decisions at every stage of your retirement journey.
How do I start planning for
retirement?
Learn the basics of retirement planning, retirement annuities and long-term investing.
How can I grow my retirement savings?
Explore practical ways to build your retirement savings, contribute more when you can and stay invested longer.
How do I turn retirement
savings into income?
Understand how retirement income works, the options available to you and what to consider when planning for a longer retirement.
What does longevity research tell
us about retirement?
Retirement planning is about more than how much you save. It's also about how long your savings may need to support you and the choices you make along the way.
Our research highlights three important realities:
- People are living longer, which means retirement savings may need to support more years of income.
- Saving consistently, staying engaged with your health and making sustainable income decisions can each influence retirement outcomes.
- Saving for retirement and drawing an income work best as part of one connected retirement planning journey.
RETIREMENT PLANNING CONSIDERATIONS
What must you consider when planning retirement?
PLANNING
Planning for longer lives
People are living longer, which means your retirement savings may need to support you for more years. A strong plan considers income sustainability, health, behaviour, advice and flexibility.
FEES
Understanding fees, flexibility and
value
Fees matter, and your adviser explains them in full. What shapes your outcome most is how long you stay invested, how consistently you contribute when saving towards retirement, and how you draw your income in retirement.
RETIREMENT PLANNING FAQS
How can Retire Strong help me
prepare for a longer retirement?
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What is Retire Strong with Discovery Invest?
Discovery Invest's approach to retirement for longer lives. It connects savings, responsible investment behaviour, adviser support and income solutions.
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How can behaviour-linked benefits improve outcomes?
Selected behaviours are linked to value: starting early, staying invested, investing more and health engagement on savings solutions, sustainable withdrawals and health engagement on Lifespan Linked Income Plan.
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Why does retirement planning need to change for longer lives?
As people live longer, a strong retirement plan now needs to cover more years of income, and consider sustainability, health, flexibility and advice, not just the amount saved before retirement.
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What does qualifying behaviour mean?
The health or investment behaviours that may unlock selected benefits, subject to the product rules, eligibility criteria and terms and conditions.
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What is DRO?
A retirement annuity that links to a qualifying Discovery plan, so your long-term investing and your engagement both add value. Linked to a qualifying Discovery Life Plan it is the Discovery Retirement Optimiser. Linked to a qualifying health plan and Vitality it is DRO | Health. Both reward you for investing more and staying invested, through fee discounts, fee refunds at retirement and a lump-sum enhancement to your retirement savings.
Ready to retire strong?
A longer retirement is something to plan for with confidence. Your adviser can help you shape a plan that fits your life, at no cost.
Disclaimer
The Discovery Retirement Optimiser | Health is a separate product exclusively available to Discovery Health Medical Scheme members, and is brought to you by Discovery Invest (Pty) Ltd. Participation in, or purchase of this product is completely independent of scheme membership, and becoming a member of the scheme is not conditional upon taking up this product. Discovery Health Medical Scheme, registration number 1125, is an independent non-profit entity governed by the Medical Schemes Act and regulated by the Council for Medical Schemes. This document is meant only as information and should not be taken as financial advice. For tailored financial advice, 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 life insurer and an authorised financial services provider and registered credit provider, NCR registration number 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.