Skip Ribbon Commands
Skip to main content

Contact Glacier

  • +27 21 917 9002
    0860 452 364

Or email us

Retirement

Save for Retirement

Invest in a retirement annuity so you can retire comfortably.

It doesn’t matter who you are or how much you want to save. By investing a lump sum or some of your salary each month, you can access a range of investment choices. The growth on the money you invest will help you retire comfortably. So remember:

  • It’s never too early to start saving for retirement
  • Every little bit counts
  • Investing in a retirement annuity is a tax-efficient way to save for retirement
  • To invest successfully, it’s important to stay committed

Glacier Retirement Annuity

Find out more about this product.

Get Advice

Get expert financial advice at your fingertips.

Glacier Retirement Annuity

Save on tax while saving for retirement with our flexible retirement annuity. Get access to a wide range of well-researched and well-known underlying investment options.

R100 000 lump sum and then R1000 per month OR
No lump sum with compulsory minimum of R2500
R15000 for adhoc investments

You must remain invested until you are at least 55 years old.

You can move your retirement savings to another company’s retirement annuity without any penalties.

You have total freedom to change your underlying investments. There is no charge to make a change, but depending on where you move your money to, initial investment charges may apply.

Access to the widest choice of investments:

  • a range of risk-profiled investment funds
  • local or offshore funds
  • actively managed or passive index-tracking funds
  • single manager or multi-manager funds
  • individual shares, exchange traded funds (ETFs) and other instruments via our stockbroking service
  • You benefit from tax deductions based on your contributions
  • You have the flexibility to stop and start contributions if your circumstances change
  • If you are in a process of insolvency, your retirement annuity investment is protected from creditors – they won’t be able to take from your savings
  • You can make a lump sum contribution or regular contributions until you retire
  • We invest the money in the underlying investments that you choose in collaboration with your financial planner
  • Your money can grow over time based on your underlying investments

When you retire, you must transfer at least two-thirds to an income-generating product such as Investment-linked Living Annuity, our Investment-linked Lifetime Income Plan or a Life Annuity. These aim to provide you with an income for the rest of your retirement.

  • Your dependants may benefit from the money after you are gone
  • Trustees will take into account your wishes and all your dependants’ needs when you die to decide who receives this benefit
  • Benefits can be paid as a lump sum, or it can be transferred to a post-retirement product to provide a regular income
  • It is also possible to have one-third of the benefit paid as a lump sum and the rest transferred to a post-retirement product

If you are permanently disabled before you retire, your benefit is paid out to you in the same way as if you had reached retirement (aged 55).

Tax

  • Tax benefits
    • A portion of your contributions are tax deductible
    • At retirement there is no tax on the amount that is transferred to the post-retirement product that provides you with an income during your retirement
    • You don’t pay tax on any interest or dividends
    • No CGT is applicable
  • What is taxable?
    • There is tax on any portion of your retirement savings that you withdraw in cash when you retire
    • There is tax on any withdrawal benefit (if you emigrate and withdraw your money)

Fees vary per product and your underlying investment. Please speak to your financial planner to make sure you understand which fees you pay and why.

Get Advice

It is important to bear in mind that any investment has some risk. We therefore recommend that you consult a financial planner who can help you find the most appropriate products for your needs and circumstances.

 

Glacier Financial Solutions (PTY)LTD is a licensed financial services provider.
Copyright © Sanlam