Frequently Asked Questions

Frequently Asked Questions

Help is obtained using the following  channels:

  1. By completing the Contact Form on the Contact Us Page
  2.  By clicking on the Can I help you button? in the bottom right corner of every web page, where you can send a WhatsApp message to one of our support agents or by clicking on the email link

The decision about whether to seek advice on investments or Risk Insurance can be critical. If you do choose to seek advice, carefully choose the right professional for the job, and you should be on your way to a better Financial Plan for the future.

If you decide to go at it alone, remember if at first, you don’t succeed, you can try again—or call a Specialist Financial Adviser/BrokerThe decision about whether to seek advice on investments or Risk Insurance can be critical. If you do choose to seek advice, carefully choose the right professional for the job, and you should be on your way to a better Financial Plan for the future. If you decide to go at it alone, remember if at first, you don’t succeed, you can try again—or call a Specialist Financial Advisor/Broker

Yes in certain instances where the pension fund act allows you to withdraw. However this is not advised and should be discussed in detail with your Financial Advisor before proceeding

There are two lump-sum benefits that are payable by a fund and which is taxed according to the tables that apply:

  • Withdrawal benefit: a benefit that is paid to a member when the member exits the fund before his normal retirement age for any reason other than death, retirement or retrenchment, for example, resignation,   withdrawal and divorce. Normal tax lump sum table applies
  • Retirement benefit: a benefit that is payable because of the member’s death, retrenchment or retirement. Retirement lump sum table applies

Every case is unique and do have a ruling as to the tax law, insurance law and or SARS rulings. Discuss with your Financial adviser who will be able to give you more information

Because we live in a world of inflation, any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow, and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire

Even the best investors lose money when the market is down or when they make a decision that doesn’t turn out as they’d hoped, but overall, investing should increase your net worth considerably. If it’s not doing that, hiring a financial advisor can help you find out what you’re doing wrong and correct your course before it’s too late

A financial advisor can also help you put together an estate plan to make sure your assets are handled according to your wishes after you die. And if you aren’t properly insured (or aren’t sure what insurance you need), a financial advisor can help with that, too

Expertise. Financial advisors know more about investing and managing money than most people. They can guide you to better choices than you might make on your own.

Accountability. Financial advisors help keep you on track by talking you out of making emotional decisions about your money, like selling all your funds when the market plummets.

Advice. It’s in the name: Financial advisors can make suggestions about the best strategies to implement to improve your finances, from what to investments to make to what insurance to buy.

Evolution. As your life circumstances change, a financial advisor can help you adjust your financial plan so that it always fits your current situation.

Action. Many people don’t take the steps they should manage their finances because they’re too busy or too uncertain about what to do. Working with a financial advisor means someone else can handle what you don’t have time for and make sure your money is being deployed in the best way

Make contact with Buddy Peters our short term insurance specialist who will assist and help you in the right direction.

Make contact with Buddy Peters our short term insurance specialist who will be of assistance and guide you through the process

Make contact with Moniq Naude our Long term insurance specialist who will be of assistance and guide you through the process

Make contact with Moniq our Long term insurance specialist who will be off assistance and guide you through the process

Customers will be able to select a drawdown rate between 0.5% and 20%

Yes, a Rand income can be specified as long as the Rand amount falls within the 0,5% and 20% threshold.

National Treasury specified the relief period as from the 01 June 2020 to 30

September 2020. In order to process these changes timeously, please communicate these

requests 10 working days before the next income payment date.

For example, if your income payment date is the 31st of the month, please ensure that your request is received by the 18th

of the month.

Late requests will result in the revised income only being paid in the following

month (or not at all if requests fall outside the relief period).

No, if customers are happy with the income they are receiving, they do not have to

make any change to their current drawdown rate.

Yes, the new drawdown rate limits are applicable to new business

No, regulations do not allow for income changes to guaranteed annuities

The payment frequency can only be changed on plan anniversary

No, since this is an annuity, it is meant to pay out at regular intervals without any interruptions.

The minimum drawdown limit, however, can be reduced to 0,5% during the relief period.

Customers will be able to change their drawdown rate once during the period from

01 June to 30 September, and then again on plan anniversary

: Customers who increase their drawdown rate will effectively be receiving a higher Rand amount of income.

In order to receive this higher Rand amount, more units need to be disinvested from the applicable fund, which could potentially jeopardise the ability of the

living annuity providing an income for the rest of the customer’s life