A successful retirement means that you are able to maintain the lifestyle you've become accustomed to. At retirement, most members use their retirement savings to buy an annuity. This is the income they’ll receive during retirement. We want your employees to feel secure knowing they'll have a regular income during retirement. We offer a full range of solutions to meet different needs and requirements, like:
- Retirement funds that want to outsource pensioner liabilities to an insurer.
- Retirement funds that want to provide their members with cost-effective annuity options at retirement.
- Employers who want to outsource post-employment medical aid obligations to an insurer.
- Retirees who want to convert their retirement savings into an income stream.
Retirees use their retirement savings to buy a guaranteed life annuity. Guaranteed life annuities pay a regular income for life to the pensioner and could include their spouse and dependants.
A living annuity is a market-linked investment that gives pensioners a regular retirement income while at the same time aiming to grow their
Guaranteed Life Annuities
Our Guaranteed Life Annuities pay a regular income for life to the pensioner and protects them against market fluctuations. Their initial income together with any future increases is guaranteed to never decrease.
Future annual increase options
We offer the following future annual increase options on our Guaranteed Life Annuities:
No increasesThis option provides no future increases, which means the pensioner will receive the same income monthly, with no annual increases.
With-profit annuity increasesPensioners will receive future increases that are based on bonuses declared annually by us.
Fixed increasesThis option provides guaranteed future increases at a fixed rate. For example, if an increase of 5% is selected, the pensioner’s monthly income will increase by 5% annually.
CPI-linked increasesThis option gives pensioners future increases based on the declared Consumer Price Index (CPI). This means that they will receive a different percentage increase every year depending on the CPI.
What is a with-profit annuity?
A with-profit annuity provides the pensioner with the security of a guaranteed income for life.
Annuity increases are declared every year and once an increase is granted it can never be taken away. The new higher amount is guaranteed for the rest of their life.
Customised with-profit annuities
This option will meet post-employment medical aid liabilities where a guaranteed and growth account is required. The guaranteed account can be any of our guaranteed life annuity options and the growth account will consist of market-linked investments.
We declare bonuses annually in December which are used to determine annuity increases for the following year. Click on the links for our latest bonus declaration announcements.
Enjoy market exposure by investing in a living annuity
Living annuities are market-linked investments designed to give pensioners a regular retirement income, while simultaneously aiming to grow their retirement savings.
A small portion is withdrawn from their retirement savings each month to provide them with a regular income.
The market value of the living annuity will vary, depending on the performance of the underlying investment portfolios, and the level of income they withdraw every month. Any money left after the pensioner passes away will go to their beneficiaries or estate.
Our award-winning Umbrella Funds provide comprehensive and flexible employee pension and provident funds, and group insurance with value-adding services.
Our range of corporate investment portfolios can be tailored to suit your employees’ or members’ retirement goals and investment needs.
Flexible group medical aid solutions for employees, and employee wellness programmes.
Reduce the financial impact of unexpected life-changing events for your employees with group life, funeral, disability and critical illness cover. You can choose the benefits to suit your employees’ needs and protect them financially.