Retirement should be a time to enjoy your life, but many people end up worrying about whether or not they'll have enough money to retire comfortably.
We offer an extensive range of products and services, such as preservation provident and pension funds, to help you plan for your retirement. Our Preservation Funds are specifically designed for investors wanting to preserve their retirement savings.
Finding the Right Retirement Solution
Hollard Offers Two Types Of Preservation Funds:
- Preservation Provident Fund – when you retire you can redeem the full value of your retirement savings in cash. Alternatively, you can convert part or all of it into a retirement annuity from an insurer.
- Preservation Pension Fund – when you retire you can claim up to one third of your total benefit as a cash lump sum. The balance must be used to purchase a retirement annuity from an insurer.
View our brochure online.
- Ideal for employees – suitable for employees who resign or are retrenched and want to invest their withdrawal benefits in a tax-efficient and secure savings environment
- Minimum contribution – R30,000 lump sum investment
- Annual statements – when you join, you receive a membership certificate. Benefit statements are provided on an annual basis
- Retirement age – from 55 years and older
- Tax-efficient – you can make a tax free transfer of your capital to an annuity from an insurer
- Single and multi-manager portfolios – up to 25% of your balanced portfolio can be invested globally where there is offshore capacity. If there’s no capacity, your contributions will be invested in domestic markets
- Specialist portfolios – provide access to the best global and domestic asset classes
- With pension fund fees, there's an upfront administration charge of 1.0% of the initial transfer value
- An upfront financial services provider (FSP) commission of up to a maximum of 3.0% + VAT of initial transfer value can also be negotiated between you and your FSP
- Annual advice for your pension fund fees are paid in advance up to a maximum of 1.0% + VAT
- There's an annual administration charge of a flat R500
- There’s one free switch instruction per year, thereafter a R300 levy per switch will be charged. Any other movement charges, such as retirement, ill health, early retirement and death will also attract a R300 charge per transaction
- Portfolio asset management charges are 1.14% per annum for domestic portfolios
- 1.85% per annum for global only portfolios
There’s no capital gains tax and no retirement funds tax to pay.