Want to make your money grow?

Saving for Retirement?

Changing jobs?

Close to Retirement?

Already Retired?

Switching to the myretirement solution may very well be your best retirement planning decision.

Investment policy

The higher your marginal bracket rate, the more important tax-efficient investing becomes. Bolster your savings and build long-term wealth with the tax benefits of an Investment Policy. The Investment Policy currently has a 40% offshore allocation limit.

“I love the peace of mind of not having to figure out my taxes. I know exactly where I stand.”

Ideal investor

A investment policy is suitable for you if you:​

  • want to higher your marginal bracket rate
  • bolster your savings
  • build long-term wealth
  • wish to reduce your tax liability.​

Features of a investment policy

Advantages

  • Flexibility to make additional contributions.
  • All growth is taxed within the policy, so all proceeds are net of tax.
  • Discretionary savings product that enables saving in a more tax-efficient manner (particularly suited to investors with a marginal tax rate higher than 30%, as the tax rate applicable within an endowment policy is the average tax rate payable by the insurer).
Speak to an advisor

Limitations

  • You may not transfer this investment to another insurer or transfer another insurer’s policy into the Investment Policy.
  • You may make additional contributions to the Investment Policy at any time during the first five years, subject to our minimum investment limits. If the contributions exceed 120% of the greater of your annual contributions in the prior two-year period, your investment will enter an extended restriction period of five years from the date the contribution was made.
  • During the five-year restriction period, you may make one loan and one surrender.
  • The maximum amount you may withdraw is the lesser of: your contributions during the restriction period plus 5% per annum compound interest; or the market value of the investment account, less fees and charges.
  • Provided it is more than R2 500, any remaining balance must stay invested until the restriction period ends. After five years, or at the end of any applicable extended restriction period, you may withdraw part or all of your capital as you wish.

Tax-Free allowance

The Investment Policy offers tax benefits to higher income tax payers:

  • All growth is taxed within the policy.
  • For individual investors, interest and net rental income is taxed at a flat rate of 30%.
  • Capital gains are taxed at 12% and dividends at 20%.
  • Sygnia is responsible for the payment of all taxes on behalf of investors.
  • You will receive all proceeds net of tax.

Administration Fees on myretirement solutions

Minimum R500 per month. 50% will invest in Sygnia funds or ETFs and 50% will invest in RSA BCI funds.

Investment management fees
The myretirement hybrid solutions offers active investment management at passive rates, never exceeding 1% per annum.

Financial advisor fees
These are negotiable with your financial advisor within the following parameters:
Initial fee: Maximum of 3% (excl. VAT) deducted prior to investing
Annual fee: Maximum of 1% per annum (excl. VAT).If an initial fee in excess of 1.50% is deducted, the annual fee is limited to 0.50% per annum.

Required documentation

  • Copy of South African green barcoded ID/ South African Smart ID Card, birth certificate (if minor) or valid passport (if a foreign national).
  • Proof of residential address not older than 3 months.
  • Proof of bank details not older than 3 months.
  • Proof of deposit/transfer into the relevant Sygnia bank account.

Don't hesitate to contact us any time.

Seeking personalized advice for your financial goals? Connect with our experienced advisors today to chart a customized path towards your financial success!

Get a Quote

Our Company

Our Products

Contact Info

© 2024 MyRetirement. All rights reserved. Website by Warp Development