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Comprehensive, third party, fire and theft or third party only car insurance. Premium based on risk profile.
Allows retiring employees to stay
invested in Old Mutual SuperFund
Old Mutual SuperFund allows retired members to continue their membership even though they have retired from their employer. This means that you are no longer forced to retire from the Fund when you still have other sources of income and don’t need your retirement benefit yet.
Old Mutual SuperFund Deferred Retirement provides you with the option to keep your retirement savings invested, protected and growing while you decide on a more appropriate time to access your retirement benefit. This is especially important if you are concerned that you may not have enough saved to retire comfortably, or if you want to give your accumulated savings an extra boost.
For more detailed information on Old Mutual SuperFund Deferred Retirement membership, please read the Old Mutual SuperFund Deferred Retirement Member Guide.
Some of the benefits that you could enjoy by deferring your retirement include:
Read the Old Mutual SuperFund Retirement Guide for an explanation of your options when leaving your SuperFund participating employer due retirement.
As an Old Mutual SuperFund member that selects Deferred Retirement, you are no longer able to make regular monthly payments into your fund, but you still enjoy the same services and options you had when you were an employee.
If you are an Old Mutual SuperFund member and you want to make use of the Old Mutual SuperFund Deferred Retirement facility, all you need to do is inform you employer, payroll administrator, or HR representative that you are choosing Deferred Retirement membership.
From there, the process is easy, automatic and seamless. On retirement from your employer, the balance of your SuperFund retirement savings will be transferred to the Old Mutual SuperFund Deferred Retirement facility where they will stay invested in the same SuperFund investment portfolio* that they were in while you were an employee.
If you are invested in a SuperFund Customised investment package, you will need to tell Old Mutual which investment portfolio you want your savings to be placed in. You have 60 days from the date you take Deferred Retirement to inform us of your investment decision of your savings will automatically be placed in the default Trustee Choice portfolio.
Old Mutual SuperFund Deferred Retirement gives you flexible investment choice, however the selection might not include some of the investment portfolios you had before. If you were invested in the Old Mutual SuperFund Customised Option you will have 60 days from starting your Deferred Retirement Membership to choose a new investment portfolio(s). If you don’t, your retirement savings will be switched to the Trustee default investment package (Trustee Choice). The four investment packages available in Old Mutual SuperFund Deferred Retirement are:
There is no minimum investment requirement to qualify for Old Mutual SuperFund Deferred Retirement or the investment portfolios that may be available to you. However it is recommended that if you have a savings balance of R30 000 or less, you should invest in the Trustee Choice investment package as this will keep your fees to a minimum.
The Deferred Retirement facility does not include death, disability or funeral cover. In the event of your death, the retirement benefit will be paid out to your nominated dependents. Should you become disabled, you can retire from the fund and access the benefit.
Old Mutual SuperFund Deferred Retirement does not allow any transfers or withdrawals of your savings. The only way to access your fund benefit is to retire from the fund.
There is no set date or age at which you need to retire from Old Mutual SuperFund Deferred Retirement.
When you decide to retire from the fund: