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Retirement planning

Spend your retirement in comfort and without worries. Start planning today.

Act today to ensure that you get on track and stay on track to achieve your retirement goals.

Motivation is what gets you started, but healthy money habits will keep you going and help you recover from setbacks.
 

Here are some things you should consider:

  1. The 45% tax is real, so it really is time to be tax-efficient in how you structure and invest your money.
    There are many ways to structure and invest your money to be tax-efficient. With our globally integrated advice, we can connect you to all the different ways to improve your wealth management tax-efficiency. 

  2. How much is enough to retire? Do you have enough?
    Watch the short clips at the end of this page from a panel discussion with personal finance consumer journalist, Maya Fisher-French, Lizelle Momberg, Head of Legal and Risk at Nedgroup Investments, and Tracy Jensen Senior Investment Analyst at Nedgroup Investments. 
     

We’re excited to connect you to tax-efficient ways to help you enjoy the retirement you deserve.

Our globally integrated advisory approach is all about understanding how we can help you make the best decisions, regardless of whether you are starting to save, are approaching retirement or are already retired.  

 

Three tax-efficient solutions to improve your returns.

  1. Investing in a retirement annuity (RA) or topping up an existing RA
  2. Investing in a tax-free investment (TFI)
  3. Investing in an endowment
     

Retirement annuities (RAs)

RAs are ideal if you want to save on tax costs and boost your long-term retirement savings. They are particularly beneficial if you:

  • are self-employed; 
  • are not already a member of a pension or provident fund; or
  • get some of your earnings from a bonus or incentive scheme.

If you may need access to your money before you retire, there are certain restrictions.

 

Tax-free savings accounts (TFIs)

TFIs enable you to save tax-efficiently through simple, low-cost, accessible investments.

  • Your interest income and capital growth are tax-free.
  • The only fee you pay is the yearly investment management fee – there are no upfront, switching or exit fees.

With the tax-free contribution limit increase from R33 000 to R36 000 a year, now is a good time to make the most of the available tax benefits if you haven’t yet done so.

Click on these links to learn:

  • how easy it is to invest; or 
  • how to make extra contributions to a TFI through our app. 

 

Less tax means better growth on your money and more savings.

With both RAs and TFIs, you don’t have to pay income tax, dividends tax or capital gains tax on returns. As a result, you earn higher returns, as you don’t have to give up some of your returns for tax payments. You also get up to 27,5% of the amount invested into RAs back from SARS through an income tax deduction, which means you have more money to invest.

 

Diverse investment choices, flexibility, and low minimums.

In addition to enhanced returns, RAs and TFIs also:
 

  1. Diversification
    Both offers access to a diverse range of local and international underlying investment options – another way to protect your portfolio from local market weakness and uncertainty and continue to grow your money. 
  2. Flexibility
    You can choose to invest in regular investments, lump sums or a combination of these.
  3. Low minimums
    With minimum investments from as little as R500 a month, these investments are easily accessible.
     

Endowments

Endowments offer a tax-efficient and useful estate planning solution.

  • Tax is recovered at preferential rates in the endowment and taken care of on your behalf.
  • After the maturity date, you have access to your money through lump sum or regular withdrawals. These withdrawals will also be tax-free.
  • Insolvency protection – the entire value of your investment is protected against creditors three years after it has started until five years after it has matured or ended.

Estate planning benefits of endowments

Beneficiary nominations can lead to potential savings on executor fees. Where a beneficiary has been nominated, payment of the death benefit does not depend on the winding up of the estate and beneficiaries will get their money relatively quickly. Liquidity is created in the estate and beneficiaries will get the proceeds.

 

Taking advantage of appropriate tax-efficient investments should form part of any considered wealth plan.
While there is no such thing as a free lunch, tax breaks are available to all South African taxpayers and is an excellent opportunity to enhance investment returns. Investing in RAs, TFIs and endowments is a way to make your money work harder, but it’s important to get professional advice before you invest to ensure you make the best decision for your retirement planning.

Act now:

  • Get advice if you want to invest in an RA, TFI or endowment.
  • Find out how to invest or top up your TFI on our app.

 

  

Learn more about retirement planning

If you starting to save, are approaching retirement or are already retired – below are some videos that answer the following questions:
 

Retirement planning  
Should you use your retirement annuity, tax-free savings or savings account to alleviate cash flow issues? Watch here
Should you defer your retirement? Watch here
How much is enough to retire comfortably? Watch here
What is the difference between a living annuity and a life annuity? Watch here
What should government employee pension fund members consider going into retirement? Watch here
What are the implications of withdrawing from your retirement fund and how much should you withdraw? Watch here
How to invest your retirement funds wisely. Watch here
How do disallowed retirement fund premiums work? Watch here
Are there benefits to investing in a retirement annuity when you are already retired? Watch here
When should you move to a life stage growth portfolio prior to retirement? Watch here
How much should you have saved for retirement by the time you’re in your 40’s? Watch here
What you need to know about financial emigration and retirement. Watch here

  

Tax-free investments  
What tax-efficient investment vehicles are available to you? Watch here
Which investment products can you hold within a tax-free investment? Watch here
Tax-free investing for your children. Watch here
What are the tax implications of death on your tax-free investment? Watch here

Additional Information


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Your feedback matters

What do you think of the new site?

Give us your suggestions

Contact us

0860 111 263
contact@nedbankprivatewealth.co.za
Call me back

Important links

Fees & pricing
FICA
CRS/FATCA
Fraud awareness

Legal notices
Client feedback
Privacy policy
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Facebook
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Nedbank Private Wealth, an authorised financial services provider through Nedgroup Private Wealth Pty Ltd Reg No 1997/009637/07 (FSP828), a registered credit provider through Nedbank Ltd Reg No 1951/000009/06 (NCRCP16), a member of JSE Ltd through Nedgroup Private Wealth Stockbrokers Pty Ltd Reg No 1996/015589/07, an authorised financial services provider (FSP50399) and a registered credit provider (NCRCP59).

Nedbank Private Wealth, an authorised financial services provider through Nedgroup Private Wealth Pty Ltd Reg No 1997/009637/07 (FSP828), a registered credit provider through Nedbank Ltd Reg No 1951/000009/06 (NCRCP16), a member of JSE Ltd through Nedgroup Private Wealth Stockbrokers Pty Ltd Reg No 1996/015589/07, an authorised financial services provider (FSP50399) and a registered credit provider (NCRCP59).

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