By Jabulani Sibanyoni, 26 July 2022
Preservation funds offer one of the best solutions to allow your hard-earned retirement savings to grow and be protected. Your existing retirement savings need to be cared for even while you continue to work and build more retirement savings with your new employer or through your private retirement annuity. Remember to think carefully before you steal these savings from your future retirement by cashing it in now.
Whenever you have the option to withdraw from an employer’s approved pension or provident fund, you can transfer your withdrawal benefit into a pension preservation fund or a provident preservation fund. Jabulani Sibanyoni, Business Development Manager at Glacier by Sanlam, examines what you need to know about this important decision.
A preservation fund offers a flexible way to retain and grow your retirement savings when you leave an employer. They were specifically designed for these exact purposes, to help you protect and grow your retirement savings when you change jobs. In simple terms, a preservation fund is a type of retirement savings fund that focuses on the growth and protection of savings that may no longer be held in an occupational fund (a pension or provident fund).
Glacier Personal Portfolios Preservation Funds offer the following benefits:
“The Glacier Personal Portfolios Preservation Funds offer you continuity, protection, tax benefits and access to your money”, says Jabulani. “With a minimum lump sum of R100,000, you can invest for growth in a way that suits your unique financial circumstances and tolerance for risk.”
Practise caution, though, he says. It’s not ideal to make any investment decision without the help of an appropriately authorised financial adviser. Your retirement savings are a critical step to a confident future and should last as long as you live. Investing your hard-earned savings must be done with the help of a professional.
For more information on the range of Glacier Preservation Funds, visit