If there is one area where education is absolutely essential to the future financial security of any person, it is retirement planning. And whether an individual finds him- or herself at an early stage of a career, nearing retirement age, or already retired, being well informed on all retirement issues remains a fundamental key to financial wellbeing.
What can you do to preserve your retirement savings?
If you leave your Fund before your retirement, you have certain options as to what you can do with your retirement savings in the Fund. You should do your utmost to preserve your retirement savings - in this way they will be kept safe, will not be reduced by tax and will keep on growing. You should also take steps to preserve the life, disability and medical cover that you currently enjoy.
You can either get a financial adviser to help you decide what to do with your benefit, or you can do your own homework to decide what will work best for you. Whichever you choose, it would be valuable for you to work through the information provided by the links below to get an idea of the factors you should consider when making your decision.
Old Mutual offers Protektor Preservation Fund and Galaxy Preservation Fund from Fairbairn Capital.
As a trustee or employer, what can you do?
There are a number of ways in which you can assist the exiting member or departing employee to ensure that his or her retirement funding remains preserved in order to contribute towards a financially secure retirement.
Education: Providing member education regarding the benefits to which they are entitled and the impact of the decisions they make regarding those benefits on their immediate and long-term financial future. Visit the
Fund Member Education section for further information.
Communication: Research indicates that so called “just in time” communication is the most likely to affect behavioural change, which is of critical importance when retirement fund members consider cash benefits to be the norm when exiting a fund. It is important to identify events that require pro-active and focused engagement and ensure that members are supported with correct information, appropriate guidance and where required, advice, to review and implement their decisions. Visit the Member Support Services section for further information.
Personal Assistance: Where members or employees do not have the knowledge required to make informed decisions, one on one assistance should be made available to them – particularly at the time of withdrawal. Visit our
Individual Advice section for more information.