#knowtherules
Like a machine needs to be well-oiled to run smoothly, when certain rules are in place, they can create a platform for transparency and efficiency for all involved.
To keep you actively involved in your retirement planning, below is a summary of the most important changes to our retirement fund rules in the past year:
Momentum retirement annuity fund
Members can transfer their benefit from their pension or provident fund into a retirement annuity after reaching their retirement date in that fund.
Momentum offers retirement benefit counselling for all fund members, which includes information about the fund’s trustee-selected annuity.
Momentum Pension and Provident Preservation Funds
Members can transfer their benefit from a pension or provident fund into a preservation fund after they have reached their retirement date in that fund. In this case, a once-off preretirement withdrawal will not be allowed on the retirement benefit transferred.
Members of a pension preservation fund who have already used their one pre-retirement withdrawal and then emigrate before retirement, can take the balance of their benefit in a lump sum due to their emigration.
Momentum offers retirement benefit counselling to all fund members, which includes information about the fund’s trustee-selected annuity.
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