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Preservation fund

Should I transfer to a preservation fund or a retirement annuity?

When leaving your job, you might wonder whether to transfer your retirement savings to a Preservation Fund or a Retirement Annuity (RA). These products serve different purposes and have different rules about what money can go where.

Can 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.

What happens to my retirement fund after I resign?

When you resign from your job, your options depend on whether you have a provident/pension fund or a Retirement Annuity (RA).

Can I access the balance of my preservation fund before age 55?

Yes, but access rules depend on when you started your preservation fund, thanks to the two-pot system introduced in September 2024.

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.

Can 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.

How will the proposed preservation fund structure affect me?

The laws around compulsory preservation have not yet come into effect, and are still under discussion.

How 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.

When can you access your preservation fund?

You can make one partial (or full) cash withdrawal at any time before you retire.

Who should consider using a preservation fund?

You should consider a preservation fund if you are withdrawing from a pension or provident fund.

How can we 10X Your Future?

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