Live life on your own terms after retirement

A retirement annuity is an investment in your future. Every person has a set amount of time that they can stay reliably employed and earn enough to keep their lifestyle and old-age secure. To help you save for retirement, we have just the retirement solution to ensure that you can keep your retirement hopes alive.

Why a retirement annuity fund?

A retirement annuity fund is an investment that keeps your money safe for future use and can be withdrawn at the point of retirement. It also offers notable tax-advantages that encourage you to save.

How do you pay for the retirement annuity?

You can either invest a lump sum (a once-off expense) or make regular monthly, quarterly, or yearly contributions. The retirement annuity can be used as your main investment towards retirement and doesn’t stand in conflict with your employer’s retirement fund.

You can choose how much you want to invest each month with minimum investments of only R500 possible if you invest for more than 15 years.

What does retirement annuity offer you?

• A fast-growing investment that is propelled by tax-advantages.
• A place to preserve your savings as, under normal circumstances, the fund can only be accessed after the age of 55.
• You can choose how the money in your account is used once you retire. In this way, you can ensure the longevity of your income security once you are no longer working.

With Discovery’s Retirement Annuity solution, you gain additional benefits that conventional retirement solutions do not.

Why choose Discovery?

Beyond the normal benefits you gain from investing, you also enjoy the following:

• The longer you invest, the more you save in terms of the administrative costs associated with your investment – savings of up to 60% of admin fees can be reached.
• The better you live, the more your investment is boosted on each recurring payment. Healthy living, responsible driving, and responsible spending habits can mean a boost of up to 15% of your investment amount.
• You get to choose from over 200 funds to invest in, all of which are managed by top external investment managers.
• Local and offshore investment opportunities are available and can be utilised according to your goals as agreed upon with your financial adviser.

What are the tax benefits?

• Your contributions are tax-deductible.
• You don’t pay tax on earned growth until retirement and capital gains tax is not applicable.
• Up to R500 000 of the amount you take as cash at retirement is tax-free.

Speak to your Tokkie Ferreira broker about investing in a Discovery Retirement Annuity and how you can ensure a bright future after retirement that protects your lifestyle and gives you the freedom to live on your own terms.

Click here to download the Discovery Retirement Annuity brochure.

This article is a general information sheet and should not be used or relied upon as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your financial adviser for specific and detailed advice. Errors and omissions excepted (E&OE)