A Retirement Annuity is an investment that helps you save for retirement. It offers significant tax advantages over other investment vehicles to encourage saving. You can use it as your main investment for retirement or in addition to your employer's retirement fund.
Features of a Retirement Annuity
Your investment growth is tax-free and can be deductible from your taxable income.
You cannot withdraw your total retirement savings until age 55, which means that you preserve your savings for retirement.
There are regulatory guidelines on where you can invest your retirement savings and there is no guarantee of investment performance.
There are fees that apply to your investment. Speak to your financial adviser for a detailed quote.
Choose a Retirement Annuity that suits your needs
Our Retirement Annuities are designed to meet your personal needs. Whether you invest a lump sum or pay in monthly contributions, we have a plan that's right for you.
With our lump-sum Retirement Annuity, you can get boosts to your investment for investing more and investing for longer. This helps you grow your retirement savings faster and gives you the opportunity to get the retirement you want.
As careers and income change, retirement saving should adapt - without giving up long-term value. Our Flexible Recurring Retirement Annuity makes that possible, with built-in boosts that reward you for investing consistently and for longer, the freedom to contribute on your terms, and competitively priced fees, all designed to help deliver better outcomes at retirement.
Your commitment to saving deserves to be rewarded. The Recurring Retirement Annuity helps you maximise your retirement value through fee refunds at retirement and built in boosts on your contributions - giving you more out of your long-term savings.
Lump-sum Retirement Annuity
Age and minimum investment amount
If you are under 30: R5,000
If you are over 30: R75,000
Flexible Recurring Retirement Annuity
Minimum investment amount
Monthly contribution: R1,150
Initial lump-sum contribution: R75,000
(optional)
Recurring Retirement Annuity
Minimum investment amount
Between 10 and 15 years: R1,150
15 years and more: R750
We make healthy investment and lifestyle choices even more rewarding
Our retirement plans are designed to help you create financial independence in retirement by rewarding you with boosts and fee discounts for taking proactive steps to manage your money and health.
Choose how to grow your boost on your lump-sum contributions
GROW YOUR LUMP-SUM INVESTMENT BOOST
You can choose to invest your boost in one of three ways:
1. In line with your underlying portfolio
2. Offshore in the Cogence Global Growth Portfolio, advised by BlackRock, enabling offshore exposure above Regulation 28 limits
3. In the Cogence Diversified Markets Portfolio, a multi-asset solution blending public and private market exposure, built with BlackRock
At retirement you can take up to 100% of the boost in cash, invest it in your retirement plan, or invest it into a Discovery Global Endowment and continue to invest in hard currency.
Enjoy a wide choice of funds to invest in
Your plan is a collection of funds. Once you have chosen your investment plan, you can decide which funds to invest your money into. Your decision should align with an investment strategy that you and your financial adviser agree on, and the investment goals you have.
We offer you access to a range of unit trust funds across various investment managers through a single-entry point. This means you can invest in our investment plans and choose investment funds that are managed by leading investment managers.
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.