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Fund Fact Sheet
Fund Fact Sheet
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Question: I am Changing jobs and would like to save or preserve the money in my pension fund or provident fund, what do I do?
Answer: Then you need to take a preservation plan.
What is a Preservation Plan?
A preservation plan is an investment plan which is used to "park" your pension or provident fund when you resign from your employer, before you reach your normal retirement age.
Benefits of a Preservation Plan
- If you resign and you want to withdraw your pension or provident fund value you will pay tax.
- When you transfer the value into a preservation fund you do not pay any tax at that stage.
- When you do make a withdrawal later you will pay tax.
- You can make one withdrawal from the preservation pension plan before reaching retirement age. It can be a full or part withdrawal.
- A Preservation fund also preserves the number of years you have been a member of your former employer's pension fund.
- This is important because the more years you have been a member of a retirement fund, the bigger your tax-free lump sum on your final pension fund payout when you eventually retire.
- The rules that applied on your ex-employer's retirement fun
d, will also apply on the preservation fund.
: Preserve your pension or provident funds as long as possible. It took you a long time to Save it. To start saving it again will cost you time and value.
- If you want to leave your company and have a pension or provident fund and would like to have more information about preservation funds, contact us or request a quote.
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Name and Surname
Estimated Value of Pension fund
Estimated Value of Provident Fund
Estimated resignation date