Sasfin Wealth Umbrella Retirement Fund

For assistance, kindly contact 012 943 6193 or send an e-mail to swurf@sasfin.com.

A member of the SWURF can only withdraw his/her retirement fund benefit upon:

• Resignation/Retrenchment/Dismissal; or
• Retirement.

Members joining a participating employer on SWURF can transfer any existing retirement benefits from another preservation fund or their previous employer’s retirement fund to the SWURF.

When SWURF members retire, they have the following options:

• They can leave their retirement fund savings in the Fund as a paid-up member within SWURF and take their retirement benefits later,
• They can take a portion (If Pension Fund, maximum = one third; If Provident, maximum=full benefit) of their benefit in cash (Taxable) and purchase a living annuity funded by the balance of their retirement benefits.

Retirement fund benefits are payable in the following ways:

• They can leave their retirement benefits and preserve it in the Fund until retirement
• They can receive it fully in cash after tax;
• They can transfer it to another provider’s preservation fund; or
• They can transfer it to their new employer’s retirement fund.

SWURF makes available the above-mentioned options via the Sasfin Wealth Investment Platform (SWIP).

The difference between a Pension and Provident Fund is that a member that belongs to a Pension Fund, can, at retirement withdraw one-third of the total benefit as a cash lump sum and the other two-thirds is then paid out in the form of pension over the rest of the pension fund member’s life. In a Provident Fund, a member, can get their full retirement benefit paid as a cash lump sum.

Note: This may change 1 March 2021, which is the date set by the National Treasury, on which provident fund members will also be obliged to take at least two-thirds pension at retirement.

Early retirement is permissible, subject to the written consent of the Employer, from h the age 55. This is the age at which you start to qualify for retirement benefits in terms of the rules of the Fund.

There is no better or worse annuity and the choice of annuity largely depend on the personal circumstances of the member. It is therefore advisable that members get in touch with their financial advisor in order to get a holistic view of their retirement savings plan including any other savings they may have outside their Pension or Provident Fund.

• Membership number
• Ensure members’ contact details (e-mail) are up to date
  Please click on the following link to access the SWURF member booklet with the detailed instructions on how to register for the member App.

OR

• A member can contact admin@iretire.co.za.

Please click on the following link to access the SWURF member booklet with the detailed instructions on how to register for the member App.

OR

• A member can contact admin@iretire.co.za.

This strategy is implemented in a taxation friendly regime, which means that the South African government, through the Income Tax Act, provide for concessions to members who provide for retirement.

As a member of a retirement fund, it is their responsibility to gain an understanding of their retirement savings journey and understand their financial position on a holistically basis.

The Sasfin Wealth Umbrella Retirement Fund was designed with the Fund member in mind and provides a complete and seamless pre to post retirement solution. This includes flexibility and choice, quality investment offerings, value for money and transparent fee structures. Members have access to user friendly and technology-enabled applications that assist in securing their financial independence at retirement.

You would need to complete a quote request form. At least two employees need to take part in the Fund, and information needed include specific employee payroll data and normal FICA information.

Please contact swurf@sasfin.com.

Please contact admin@iretire.co.za.

Please contact swurf@sasfin.com.

Please send an e-mail to swurf@sasfin.com.

You would need to complete a quote request form.

Please contact swurf@sasfin.com.

Please contact swurf@sasfin.com.

Please contact csc@iretire.co.za.