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Join forces with over a million other South Africans
who are saving for their retirement with SARAF.
personal solutions retirement plans SARAF

What is SARAF?

The South African Retirement Annuity Fund is a retirement annuity fund that was started in 1961 and is sponsored and administered by Old Mutual. It is registered with the Financial Sector Conduct Authority (FSCA) and the South African Revenue Services (SARS), as required by legislation. SARAF operates as a separate legal entity from its sponsor, Old Mutual, and is managed by a Management Board, also known as a board of trustees.
What's in it for you?
  • Choose from a range of investment options on offer to suit your risk profile and growth objectives
  • You can select a range of income-generating solutions once you retire from SARAF
  • Your contributions are tax-deductible (within prescribed limits)
  • You can transfer your benefits from other approved retirement funds into SARAF.
Need to know more?

Nearing retirement?

  • Take a look at your your options at retirement
  • If you need more information on SARAF annuity options please contact us on 0860 722 222 to speak to a Retirement Benefit Counsellor.
    Why SARAF is good for youBecause it's administered by Old Mutual.
    YOUR OPTIONS AT RETIREMENTMaking retirement decisions as easy as possible for South African Retirement Annuity Fund (SARAF) members.
    Want to find out more about SARAF?
    Here are some answers to your questions. Need more? Call us on 0860 60 60 70 and let's chat.
    • The outbreak of the COVID-109 pandemic impacted every single person in the world. Nobody can really predict how long it will take for everything to return back to normal. We’re all in unchartered territory and it’s easy to panic if you see how the pandemic is taking a toll on the world economy. If you’re concerned about your retirement money/investments, remember that the market tends to bounce back in the long term.

      It has a strong history of recovering from downturns. And so is Old Mutual, the sponsor and administrator of SARAF. Old Mutual has been adapting to changing circumstances and rising to many challenges for 175 years.

      Our advice to you is: don’t make any rash financial decisions during these volatile times. Remain focused on the long-term picture. Your adviser is ready to help you stick to your investment plan and provide you with the best advice so that you can make the right financial decisions for you and your family.

      A message from Old Mutual

      In response to our enquiries regarding the steps being taken by Old Mutual to assist SARAF members in these challenging times we received the following message. It also contains links that can be used to make enquiries during the period where you may not be able to visit Old Mutual branches for assistance.

      Old Mutual is geared for the COVID-19 pandemic

      The outbreak of the COVID-19 pandemic is changing the world. It’s hard to predict what’s going to happen in the next few weeks and months. Old Mutual has faced and overcome many challenges over the last 175 years. We’re financially strong and have put the right procedures and policies in place to ensure that our business continues seamlessly with as little disruption as possible.

      Old Mutual has the technological infrastructure so that our staff members can work remotely where necessary. It’s mostly business as usual as we keep delivering exceptional service to our customers.

      We continue to meet our customers’ needs by maintaining the best service in these challenging times. Our lines of communication are open, please contact us if you have any questions:

      • Stay safe and rather avoid visiting Old Mutual branches.
      • We remain online if you have any queries or questions
      • Visit the the COVID-19 page on our website for news and updates
      • View our contact details
      • And, as always, talk to your trusted adviser.
    • Old Mutual has the technological infrastructure so that its staff members can work remotely where necessary. It’s mostly business as usual as they keep delivering exceptional service to SARAF members.

      Old Mutual continues to meet members’ needs by maintaining the best service in these challenging times. Their lines of communication are open, please contact them if you have any questions:

      • Stay safe and rather avoid visiting Old Mutual branches.
      • They remain online if you have any queries or questions
      • Visit the COVID-19 page on our website for news and updates on COVID-19
      • View our contact details
      • And, as always, talk to your trusted adviser.

    • Yes, your benefits payable from SARAF will be affected by income tax. In accordance to the normal income tax principal applicable to benefits from a retirement annuity fund, part of your benefits may be tax-free, depending on previous payments received from retirement funds and the amounts payable. SARS will determine the amounts payable.

      Please contact your financial adviser or your broker if you would like information on how tax will affect your benefits. Should you not have a financial adviser or broker, we recommend that you call an accredited Old Mutual financial adviser on 0860 INVEST (0860 468 378) and someone will gladly assist you.

    • The Income Tax Act allows a member who has not yet retired but who has ceased paying contributions towards a retirement annuity contract and has emigrated, to receive upon written request, the lump sum value of his retirement annuity contract, subject to tax. This applies irrespective of the value of the investment. Such payment is, however, subject to the requirement that the member’s emigration is recognised by the South African Reserve Bank. Members resident in countries forming part of the common monitory area (CMA) will not qualify for emigration surrenders.

    • Please note that your estate cannot be nominated as a beneficiary on a retirement annuity as it is not a legal person. It should also be noted that the death benefits of a retirement annuity do not form part of the assets of a deceased member’s estate and can thus not be bequeathed by will, nor can it be ceded.

    Copyright Old Mutual Limited 2020 | Disclaimer Privacy Notice
    Copyright Old Mutual Limited 2020
    Disclaimer Privacy Notice
    Old Mutual Limited (OML) is a premium African financial services group that offers a broad spectrum of financial solutions to retail and corporate customers across key markets in 14 countries.
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