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Preservation fund
What is the difference between a provident, pension, RA and preservation fund?
While all of these are retirement funds governed by the Pension Funds Act, they serve different purposes and have distinct characteristics.
Read moreCan financial advisors charge a fee for transferring a preservation fund?
There are two things to consider. Firstly, financial advisor fees are subject to negotiation (between you and the advisor). Secondly, some service providers (mainly the insurance companies) require you to use a financial advisor.
Read moreShould I transfer to a preservation fund or a retirement annuity?
Both products are retirement funds for individuals, governed by the Pension Funds Act. A preservation fund is more flexible than a retirement annuity. With a retirement annuity you can only access the money from age 55.
Read moreCan I access the balance of my preservation fund before age 55?
A member is entitled to one full or partial withdrawal before retirement age. After that, the balance can only be accessed at retirement from age 55 onwards.
Read moreHow will the proposed preservation fund structure affect me?
The laws around compulsory preservation have not yet come into effect, and are still under discussion.
Read moreCan I make a withdrawal from my preservation fund before retirement?
The earliest retirement date is usually 55, although this is subject to the fund rules. These issues are important because they determine if you can a) make another withdrawal and b) the tax thereon.
Read moreHow do you join a 10X Preservation Fund?
When you withdraw from your current retirement fund (either a company fund or another preservation fund), you must complete a withdrawal form, indicating that you wish to transfer your investment to the 10X Preservation Pension/Provident Fund.
Read moreWhen can you access your preservation fund?
You can make one partial (or full) cash withdrawal at any time before you retire.
Read moreWho should consider using a preservation fund?
You should consider a preservation fund if you are withdrawing from a pension or provident fund.
Read moreHow can we 10X Your Future?
Begin your journey to a secure future with 10X Investments. Explore our range of retirement products designed to help you grow your wealth and achieve financial success.