Home | Contact us
Search Site:        Region Selection:
 
CRESCENT PRESERVATION PROVIDENT FUND
KEY INFORMATION
 
Type of Fund: Preservation Provident 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

The Fund accepts transfers from other approved Provident Funds with the intention of preserving the benefits due to the member. The member and the employer from whom he or she is resigning must apply to the Oasis Crescent Preservation Provident Fund before the termination of employment of the member.

It is possible to make one withdrawal from the Oasis Crescent Preservation Provident Fund prior to retirement. Tax will be due on such a withdrawal and it is highly advisable to obtain the relevant advice to maximise returns and retirement savings.

It is not necessary to retire from employment to retire from the Oasis Crescent Preservation Provident Fund but the member must be older than 55 to retire.

Suitability
The Oasis Crescent Preservation Provident Fund is suitable for individuals who are intending to resign from employment, who are members of a provident fund and who wish to preserve their benefits. It may also be suitable to investors wishing to obtain an investment of an ethical nature and be part of the investment philosophy. 
 
Contributions
Contributions, other than transfers from approved Provident Funds, are not possible.
 
Investment Options
The member can choose between three investment portfolios that include:
  • New Moon - High Equity Portfolio with a benchmark of CPI + 3%
  • Half Moon - Progressive Portfolio with a benchmark of CPI + 1%
  • Full Moon - Stable Portfolio with a benchmark of CPI
These portfolios have been designed to coincide with the changing needs of investors, as they approach retirement.
 

Benefits
Benefits are provided in the form of a lump sum. Your investment is not guaranteed and may rise and fall in accordance with market conditions.  The investment philosophy of Oasis however is to provide consistent superior return at lower than market risk

Withdrawal or Retirement
A member may only withdraw or retire from the Fund between the ages of 55 and 70 although one withdrawal before retirement is permitted. Tax will be due on the withdrawal and clearance form the revenue authorities regarding the tax position of the investor will be required.

Death
In the unfortunate event of death of the member the funds will be paid to the nominated beneficiary, subject to the requirements as contained in Section 37C of the Pension Funds Act.
 
Shari’ah compliance
The funds are managed in accordance with the Shari’ah mandate.
 
Costs
The fees are transparent and include an administration & investment management component. Investment management fees are linked to the performance of the underlying portfolios to provide the investment manager with an incentive to perform. All the fees should be disclosed to you by your financial advisor.



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


















 
fund facts fund price annual reports forms apps Oasis Milestones legal