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Glacier Retirement Annuity

Contact Glacier

  • English
    +27 21 917 9002
    0860 452 364
    +27 21 917 9000
    0860 452 237
  • or

​​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.

Minimum contribution

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

How long to invest for

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

Freedom to move your money

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

Freedom to change your choice

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.

Your investment choices

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

How it works

  • 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

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

When you die

  • 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

Early retirement

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).


You may withdraw your money in cash, subject to the retirement annuity rules, tax and other legislation at the time.


  • 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.

Why get financial 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.

Contact Glacier

  • English
    +27 21 917 9002
    0860 452 364
    +27 21 917 9000
    0860 452 237
  • or
Glacier Financial Solutions (PTY)LTD is a licensed financial services provider.
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