If you resign, are dismissed or retrenched, you must decide what to do with your retirement savings. Don’t be tempted to use what you have built up, preserve it, to help provide you with a safe, comfortable and stress-free retirement.
Assupol offers two preservation funds
- Assupol Pension Preservation Fund and
- Assupol Provident Preservation Fund
- Your retirement savings can stay invested in the market with uninterrupted growth.
- You choose the investment fund that suits your individual risk profile.
- You cannot make additional contributions.
- Your retirement savings won’t be taxed when you transfer them to the preservation fund but will be taxed when you retire.
- You can draw from the preservation fund once before retirement if you really need cash, but this money will be taxed.
- Your money will be available to you from your 55th birthday, or earlier if you become disabled.
- Your retirement savings are protected against creditors.