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Retirement planning

A stress-free retirement starts with proper retirement planning. Here’s what you need to know.

Get expert advice on retirement planning that will connect you to the future you want.
Saving for retirement requires disciplined long-term saving and an appropriate investment strategy. Knowing exactly how much to save for how long and deciding which investment vehicles to use to help you meet your retirement goals requires careful planning and specialist expertise. Our globally integrated advice can help ensure you make the right savings decisions appropriate for your needs, circumstances and life stage, so that you can enjoy a stress-free retirement.
 


Retire right webinar

25 November 2022

We recently hosted a webinar where Springbok rugby legend, Bryan Habana, offered invaluable lessons on his personal retirement planning journey. The session was facilitated by wealth coach, Samke Mhlongo. There was also a panel discussion on retiring right where panellists; Tracy Muller (Head of Advice and Philanthropy at Nedbank Wealth Management (SA)), Tracy Jensen (Senior Investment Analyst at Nedgroup Investments), William Khwela (Senior Tax Specialist at Nedbank Wealth Management (SA)) and Refilwe Mabiletsa (Wealth Manager at Nedbank Wealth Management (SA)) shared valuable insights on how to harness effective retirement planning to connect you to the retirement outcomes you desire.

Click on the video to watch a recording of this webinar.

Let us help you with your retirement planning. Complete our online form today and one of our consultants will call you back.

Here are some things to consider that we can advise you on:

 

  1. The 45% tax is real, so it is vital 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. Less tax means better growth on your money and more savings. With our globally integrated advice, we can connect you to all the different ways to improve your
    tax-efficiency – see below for more details on tax-efficient investment options. 

  2. How much is enough to retire on comfortably? Are you on track to have sufficient savings?
    At the bottom of this page, watch the short video clips from a panel discussion with Maya Fisher-French, personal-finance consumer journalist; Lizelle Momberg, Head of Legal and Risk at Nedgroup Investments; and Tracy Jensen, Senior Investment Analyst at Nedgroup Investments. 

 

Redefining retirement
23 November 2021

During our previous 'retirement planning' webinar, our panel of experts connected you to insights about a new way of looking at retirement. Instead of focusing on the end of a career or formal employment, more people now choose to concentrate on what they plan to do in their ‘second phase of life’.Click on the video to watch a recording of this webinar.
 

We can connect you to tax-efficient ways to help you enjoy the retirement you deserve.
While there is no such thing as a free lunch, tax breaks are available to all South African taxpayers and provide an excellent opportunity to enhance investment returns and make your money work harder – whether you are starting to save, are approaching retirement or are already retired. It is however important to get professional advice before you invest to ensure you make the best decision for your specific needs.

For expert, personal advice, speak to your wealth manager or ask us to call you.


Three tax-efficient solutions to improve your returns

  1. A retirement annuity (RA)
  2. A tax-free investment (TFI)
  3. An endowment 

 

Retirement annuities (RAs)
RAs are ideal if you want to save on tax costs and boost your long-term retirement savings.
  • RAs 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.
  • With an RA you pay less income tax now, because your contributions (up to certain limits) can be claimed as an income-tax deduction.
  • All income and growth you earn while you are invested are tax-free.
  • It’s important to note that an RA is specifically designed for retirement planning, which means you generally can’t access your money before the age of 55.
Tax-free savings accounts (TFIs)
TFIs enable you to save tax-efficiently through simple, low-cost, accessible investments.
  • With TFIs you don’t pay any tax, unless you contribute more than the allowed limits – currently R36 000 per year and R500 000 over your lifetime.
  • The only fee you pay is the yearly investment management fee – there are no upfront, switching or exit fees.
  • You can access your money within 48 hours.

Find out more about how easy it is to use our app to:

  • open a new tax-free investment; or 
  • make extra contributions to an existing TFI.
Both RAs and TFIs offer you the following:
  • Diversification – you have access to a diverse range of local and international underlying investment options.
  • Flexibility – you can choose to invest in regular investments, lump sums or a combination of these.
  • Low minimum monthly contributions – with minimum investments from as little as R500 a month, these investments are easily accessible.

  

View a detailed comparison of RAs versus TFIs and their respective features, limits and tax benefits.

  

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 a lump sum or regular withdrawals. These withdrawals will also be tax-free.
  • Insolvency protection – the entire value of your investment is protected against creditors from three years after the investment has started until five years after it has matured or ended.
  • Estate-planning benefits – if you have nominated beneficiaries, payment of the death benefit does not depend on the winding-up of your estate, which means your beneficiaries will get their money relatively quickly.
  •    

    Read these articles for more information on retirement planning:
    • What is the best way to save for retirement?
      Saving for retirement is important for your peace of mind, but how do you find the right solution for you?
    • Benefits of saving with a retirement annuity
      Investing in a retirement annuity is one of the better ways to save for your retirement.
    • Invest tax-efficiently for retirement
      Many retirees are still living active, full lives. So how can your savings and investment decisions enable this?

      

    Want to know more?
    Here's what to do:

    • Contact your wealth manager.
    • If you’re not a client yet and want expert, personal advice on your retirement planning, we'd love to get in touch. Contact us on 0800 111 263 or complete an online contact form.


    Learn more about retirement planning
    The below videos address some of the key questions and topics relating to successful retirement planning – we hope you will find these useful:
     

    Retirement planning
    Simply click on any of these links to view the videos.

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

      

    Tax-free investments
    • What tax-efficient investment vehicles are available to you?
    • Which investment products can you hold within a tax-free investment?
    • Tax-free investing for your children.
    • What tax implications do tax-free investments pose to deceased estates?

      


    News and views
    Read our latest insights so that together with our advice you can connect your financial decisions to the future you want.
     

    Additional Information

    Our investment offering

    Click here

    Get an income, grow and protect your wealth with our Nedbank Private Wealth investment products and services.

    Invest tax-efficiently for retirement

    Click here

    Many retirees are still living active, full lives. So how can your savings and investment decisions enable this?

    Benefits of saving with a retirement annuity

    Click here

    Investing in a retirement annuity is one of the better ways to save for your retirement.

    What is the best way to save for retirement?

    Click here

    Saving for retirement is important for your peace of mind, but how do you find the right solution for you?

    Past webinars

    Watch here

    We have created a library of all our previous webinars to connect you with expertise and insights about a range of topics. Watch all our past webinars here.


    Your feedback matters

    Please take a moment to give us your suggestions

    Give us your suggestions.

    Contact us

    0800 111 263
    contact@nedbankprivatewealth.co.za
    Call me back

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    Useful links & Contacts

    Your feedback matters

    Please take a moment to give us your suggestions

    Give us your suggestions.

    Contact us

    0800 111 263
    contact@nedbankprivatewealth.co.za
    Call me back

    Important links

    Disclaimer
    Legal
    FICA
    FATCA/CRS
    Fraud awareness

    Legal notices
    Client feedback
    Privacy policy
    LinkedIn
    Facebook
    Twitter
    Instagram
    YouTube

    Nedbank Private Wealth includes the following entities: Nedbank Ltd Reg No 1951/000009/06 (NCRCP16) (FSP9363) | Nedgroup Private Wealth (Pty) Ltd Reg No 1997/009637/01 (FSP828) | Nedgroup Private Wealth Stockbrokers (Pty) Ltd Reg No 1996/015589/07 (NCRCP59) (FSP50399), a member of the JSE. Please note that our calls may be recorded.

    Nedbank Private Wealth includes the following entities: Nedbank Ltd Reg No 1951/000009/06 (NCRCP16) (FSP9363) | Nedgroup Private Wealth (Pty) Ltd Reg No 1997/009637/01 (FSP828) | Nedgroup Private Wealth Stockbrokers (Pty) Ltd Reg No 1996/015589/07 (NCRCP59) (FSP50399), a member of the JSE. Please note that our calls may be recorded.

    Our investment offering

    Click here

    Get an income, grow and protect your wealth with our Nedbank Private Wealth investment products and services.

    Invest tax-efficiently for retirement

    Click here

    Many retirees are still living active, full lives. So how can your savings and investment decisions enable this?

    Benefits of saving with a retirement annuity

    Click here

    Investing in a retirement annuity is one of the better ways to save for your retirement.

    What is the best way to save for retirement?

    Click here

    Saving for retirement is important for your peace of mind, but how do you find the right solution for you?

    Past webinars

    Watch here

    We have created a library of all our previous webinars to connect you with expertise and insights about a range of topics. Watch all our past webinars here.

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