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Type of Fund: Retirement Annuity Fund
Registrations: Financial Services Board and the South African Revenue Services.
Risk Profile: Moderate (Balanced investment mandate in accordance with Prudential Guidelines)
Administrator: Oasis Crescent Retirement Solutions (Pty) Ltd
Investment Advisor: Oasis Crescent Capital (Pty) Ltd
Key Characteristics

This is an essential savings product that allows individuals to provide for retirement by contributing single or recurring contributions in a tax efficient manner. In most instances, one is able to receive tax relief on a proportion of the contribution that is invested in a retirement fund.

There are also a number of benefits that may be derived when the policy reaches maturity. To fully appreciate the tax benefits that are provided by these funds, investors should consult their tax adviser.

Transfers from other approved pension, provident, and retirement annuity  funds are also accepted. Investors may be allowed to make use of various investment options to facilitate various forms of diversification options and customised risk profiles. These products are required to follow prudential investment guidelines, which maintain a degree of diversification by asset class.

How it Works?

With a retirement annuity the investor contributes towards a fund with the aid of single or recurring contributions. Should they satisfy the requirements for tax relief, then they may be able to claim back the amount of income tax that would have been paid on the respective contributions. If the respective retirement fund is unitised, the investor may be able to choose from various alternative  investment funds that would usually be associated with different risk profiles. The respective investment funds would provide various diversification benefits as they would usually invest in a large number of securities from within different sectors, geographic locations, etc.

The Benefits

Investors should consult the respective terms and conditions. Benefits are payable on your retirement, withdrawal (subject to current limits), death or disability. Please refer to the Retirement Fund Death and Disability slide.

Withdrawal or Retirement

Retirement Lump Sum Benefits

Lump sums accruing between 1 March 2014 and 28 February 2018

Taxable portion of withdrawalRates of tax
R 0 - R 500 000Nil
  R500 001 - R 700 000  18% of the amount over R 500 000
 R 700 001 - R1 050 000  R 36 000 + 27% of the amount over R 700 000
1050001 +
R130 500 + 36% of the amount over R1 050 000

Withdrawal Lump Sum Benefits

Lump Sum accruing between 1 March 2014 and 28 February 2018

Taxable portion of withdrawalRates of tax
R 0 - R 25 000Nil
 R25 001 - R660 00018% of the amount over R 25 000
 R660 001 - R990 000R114 300 + 27% of the amount over R660 000
 R990 001 +
R203 400 + 36% of the amount over R990 000

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