• Members may invest in the Retirement Annuity Investment at any stage in their lives.
  
• Once-off, recurring investments via debit order and additional ad hoc investments are allowed.
  
• As from 1 September 2024 when the Two-Pot system was introduced, contributions made to the Retirement Annuity investments are split into two pots – a savings pot and a retirement pot. One-third of contributions goes to the savings pot which members can access once every tax year in an emergency, taxed at their marginal tax rate. 

The remaining two-thirds go into the retirement pot which they cannot access until retirement. Retirement savings up to 31 August 2024 are allocated to a vested pot and the existing rules apply.

• Withdrawals before retirement are allowed in certain cases:

1. 1. once a tax year from the savings pot (recommended for emergencies only)
   2. due to cessation of residency (subject to the member meeting certain requirements)
   3. a full withdrawal is allowed if the total value of the Retirement annuity is below R15 000.

• The minimum investment amounts are R10 000 lump sum or R500/month.

• Upfront fee - maximum 3.45% incl VAT (Once off fee)
• Annual Advisor Fee – maximum 1.15% incl VAT
• Beneficiaries are allowed on a retirement annuity

At retirement:

• A compulsory annuity can be purchased with the full benefit amount (which includes all pots).
• The full amount available in the vested pot may be taken in cash, provided that it is allowed by the rules of the fund and prevailing legislation.
• The member may take a combination of a cash lump sum (after tax) and a compulsory annuity.
• If there is an amount left in the savings pot, the member may take it in cash or transfer it to the retirement pot.

If the amount in the retirement pot calculated together with two-thirds of the amount in the vested pot is less than R165 000, the member may take the full amount as a cash lump sum

Click here to download Shariah Certificate

Click here to download latest Fund Fact Sheet

The following documentation is required to apply:

Adults

• South African bar-coded Identity Document/Smart ID
• Proof of address not older than 3 months, for the verification of your residential address

Minor

• Birth Certificate of minor or Smart ID for young adults age 16 and over
• South African bar-coded Identity Document/Smart ID and proof of address not older than 3 months of parent or guardian, for the verification of their residential address.

To view your statement or invest with Old Mutual 24/7, clicking here.

Click here to view all acceptable forms of proof of address required to open an account.

With these on hand, you can then contact your nearest branch to apply, or complete the Contact Form on this page for our Sales Consultant to call you