The preservation fund is a great investment choice that provides advantageous tax advantages and serves individuals who wish to protect their retirement savings previously held in the pension or provident funds provided by their employer.
Who is the Preservation fund for?
When you leave your job, the money you have saved up in your employer retirement fund becomes available to you. This option is perfect for clients no longer affiliated with their former employer’s pension or provident scheme, as it allows them to keep growing and safeguarding the value of these past retirement savings. By transferring both your pension and provident contributions into our preservation fund, you can ensure maximum growth for your future financial security.
Product specific features:
- Tax-free growth: You do not have to pay tax on the interest or capital gains earned on your preservation fund. This can help your money grow faster over time.
- Tax-free transfer: the transfer of your retirement benefit into a preservation fund is tax-free.
- Transfers of retirement funds Only: You may not make additional investments into your preservation fun. You may not deposit cash or use a recurring debit order to add money into your preservation fund. You may open a new preservation fund account for the additional amount.
- You may invest into a preservation fund by transferring from another retirement fund, including an employer fund or provident fund, the Government Employees Pension Fund (GEPF), another pension or provident preservation fund and/or the proceeds of a divorce settlement from another pension or provident preservation fund.
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