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Cost-effective, easy to use preservation fund designed to help employees preserve their retirement savings.
Protektor is a cost-effective, easy to use preservation fund designed to help employees, when leaving a place of employment, preserve their retirement savings to ensure that their retirement planning remains on track. Protektor offers a pension fund and a provident fund preservation option, which makes it possible to transfer benefits tax free from an employer fund.
You keep your retirement plan on track. Preserving your accumulated savings in Protektor shows your commitment to your financial future. Old Mutual Protektor focuses on preserving your retirement savings when you retire, change jobs or even when you are dismissed. Read more...
You may consolidate all your retirement savings in Old Mutual Protektor. You do this by transferring amounts from other pension, provident or preservation funds that you are a member of, when these amounts become available for transfer, into Old Mutual Protektor. For more details, consult the Protektor brochure.
The investment portfolio. As a member of the Protektor Preservation Fund, you will be invested in Old Mutual’ s market leading Absolute Stable Growth portfolio which is the Protektor Trustees’ selected portfolio - that provides an 80% capital guarantee.
Purchasing an annuity. Making a decision about your retirement fund savings when you are ready to retire is difficult. Protektor has put in place an annuity strategy to aid you in the decision making process. Read more...
The Protektor Annuity Strategy has a comprehensive support structure accompanied with two straightforward annuity options. Find out more about the Protektor Annuity Strategy here.
You keep your options open. Although you should do everything you can to keep your retirement savings intact, we understand that sometimes you need access to cash. Should the need arise; you are allowed one withdrawal after joining Protektor, except where the rules of your transferring fund do not allow this. Read more…
Any remaining invested benefit will only be payable on retirement, death or disability in terms of the Rules of the Fund. You can transfer your retirement savings to another retirement fund at any time.
You can select your retirement age. You can choose to retire at any age after your 55th birthday.
You have the time and flexibility to make good choices. Since your retirement savings have the ability to continue growing, you can take time deciding what to do with them. This also gives you the time to speak to a financial adviser if you need to.
In order to sell our products, intermediaries/brokers must be in possession of a FAIS License and have a mandate, issued by Old Mutual Corporate Distribution. The mandate must indicate which products the intermediary/broker has been accredited.
For more information about accreditation material and to arrange for an assessment, please contact Old Mutual. Download the Protektor New Business Quote
As an Old Mutual Protektor member, you can choose to retire at any age after you have reached your 55th birthday. This doesn’t mean you have to also retire your job at that time - you will only be retiring from the fund if you want to do so. Read more...
When you retire, and your Old Mutual Protektor membership is in the:
Remember that the capital used to purchase a pension is not taxed, but the income paid by the pension policy will be subject to tax. Complete the retirement claim form to action your claim.
Read more about your options at retirement with the Old Mutual Protektor Annuity Strategy.
If you become disabled during your Old Mutual Protektor Membership, you can apply to have a disability benefit paid from your fund. Read more...
You will need to provide proof of your disability to the Trustees of the fund in order to qualify for this disability benefit. If your application is declined, you still have the option of withdrawing some or all of your savings from the fund. Complete the Declaration of Ill Health to action your claim.
If you die while you are an Old Mutual Protektor member, the balance of your account is used as a death benefit. In terms of the Pension Funds Act, the Trustees of Old Mutual Protektor must allocate this benefit in a fair manner between your beneficiaries. Read more...
It's important to remember that this death benefit doesn't form part of your deceased estate, so it is not paid out according to what you've said in your Will. Making sure you have updated your list of beneficiaries with Old Mutual will help make this process fair and efficient. As an Old Mutual Protektor member, you can change your beneficiary nominations at any time. Access the relevant forms here.
With Old Mutual Protektor, you are allowed to transfer your accumulated retirement savings to another retirement fund. Read more...
Transferring your retirement savings to another employer’s fund. If you get another job that offers a retirement fund, you can keep your retirement savings invested, and have the potential to keep the investments growing for your future, by transferring the entire amount in Old Mutual Protektor to that fund. This will protect the value of your savings because no tax will be charged on the transfer.
Transferring your retirement savings to another fund. You can also choose to transfer your Old Mutual Protektor account balance to a different retirement fund, such as a preservation fund or a retirement annuity. Doing this will also not result in your savings being taxed.
You are allowed one withdrawal after joining Protektor, except where the rules of your transferring fund do not allow this. Read more...
Remember that by not keeping your retirement savings invested, you lose out on the benefit of compound interest, which means you will need to start saving for your retirement all over again, and you might never manage to build up the same savings amount again. Should you make a partial withdrawal from Protektor, it is important to note that any remaining retirement savings will only be payable on retirement, death or disability in terms of the Rules of the Fund. Complete the withdrawal form to action your claim.
When you claim, you will exit Old Mutual Protektor.