STELLENBSOCH UNIVERSITY RETIREMENT FUND GUIDE TO THE WITHDRAWAL PROCESS (excludig retirement on pension)

Size: px
Start display at page:

Download "STELLENBSOCH UNIVERSITY RETIREMENT FUND GUIDE TO THE WITHDRAWAL PROCESS (excludig retirement on pension)"

Transcription

1 1 of 10 STELLENBSOCH UNIVERSITY RETIREMENT FUND GUIDE TO THE WITHDRAWAL PROCESS (excludig retirement on pension) 1. INTRODUCTION This guide has been compiled to assist you as a member of the University of Stellenbosch Retirement Fund now that you have decided to leave the Fund before your retirement. If you are planning for your retirement, please read the Guide to the Retirement Process put out by the University of Stellenbosch Retirement Fund. You will have important decisions to make when you leave the Fund which can influence your long-term financial security. You are thus advised to approach a financial adviser to assist you, should you think it necessary. 2. BACKGROUND: HOW DOES THE FUND WORK? The Fund is a fixed contribution fund. This means that contributions are paid monthly into the Fund at a fixed percentage of your pensionable income. These funds are invested in order to earn investment income. All investment income, including interest and capital growth, is allocated to you in the form of monthly interest. Please note that the Fund s assets are invested in balanced investment portfolios, which include substantial investment in shares. This kind of asset has volatile market values and it is possible that the growth of the investment can be negative during some periods. The University makes additional monthly contributions to cover the insurance premiums for death cover and disability income benefits. The administrative costs of the Fund are paid from the Fund assets.

2 2 of 10 The accumulated contributions and the investment growth on them represent your Fund Credit. Additional to the Fund Credit, an additional amount for the Retirement Reserve Fund (RRF) is kept in the Fund, which was transferred to the Fund for some members on 1 November 1994 from the Pension Fund for Associated Institutions (PFAI) or the Pension Fund for Temporary Employees (PFTE). This RRF amount was calculated at the time in an attempt to make up for the under funding of the PFAI and PFTE on retirement, based on certain actuarial assumptions. The RRF is accumulated at the same investment growth as that allocated for normal contributions. In terms of the agreement concluded with members when the Fund was established, the RRF amount is not paid out on resignation or dismissal. A portion of the accumulated RRF is indeed paid out in cases of retrenchment or early retirement. The latter is discussed in the next section. 3. BENEFIT ON ENDING MEMBERSHIP OF THE FUND If you leave the Fund before your retirement, you will be entitled to a withdrawal benefit equal to your Fund Credit. If you leave the Fund as a result of staff reduction, you are also entitled to a portion of your accumulated RRF amount. This portion will be calculated as the ratio between your completed years of service at the University and your potential service up to and including the Fund s normal retirement age (60 years) or such later age (not later than 65) as specified in the member s service contract with the Employer and communicated in writing by the Employer to the Trustees. The following example demonstrates how this calculation is made: Assume a member with 7 years of completed service, at the age of 51 years. The member has thus 9 years of potential service before normal retirement age, which is 60 minus 51 years. The member s total years of potential service are thus 16 years (7 years completed service plus 9 year s future service). As a result of staff reduction the member will thus receive 7 /16 ths (that is 43.6%) of his/her accumulated RRF amount.

3 3 of 10 The most important decision that you must make when you leave the Fund is whether you wish to receive your withdrawal benefit as a single cash amount or if you prefer to keep it for your retirement by transferring it to another retirement product. If you take your benefit in cash, it will be taxed. If you keep it by transferring it to another approved fund (including a trust fund) or a retirement annuity fund, it will not be taxed on the date of withdrawal from the Fund. The Administrators of the Fund, Alexander Forbes Financial Services, will calculate the value of your withdrawal benefit on the date you leave the Fund. The administrators will also apply to the Receiver of Revenue for a tax directive and will pay the net benefit. Your various options with regard to the payment of your benefits are discussed below. 4. CASH BENEFIT If you decide to receive your full withdrawal benefit as single cash amount, the benefit will be taxed at the highest of your average tax rate in the present or previous tax year. The first R1 800 of the benefit is, however, tax-free. If you transferred money from the PFAI or PFTE that transfer value will also be tax-free. (Please note that a transfer from a pension fund to a provident fund is subject to income tax.) The Fund s administrators are obliged to deduct this tax from your benefit before the net benefit is paid to you. If your salary is greater than R (or whatever the limit might be from time to time set by Receiver of Revenue) the amount of tax payable will be determined by your local tax office. Once the administrators have calculated your benefit, they will apply for this tax directive. The administrators will pay the balance of your benefit only once this tax directive has been received. If your tax matters are not in order or up to date the payment of your benefit to you will be delayed. If tax is deducted from your benefit, it will automatically be paid to the Receiver of Revenue, and you will receive an IRP5 form from the administrators providing proof that the tax has been paid.

4 4 of 10 The withdrawal claim form makes provision for you to fill in your bank account details, in which case the funds can be paid directly into your account. 5. PRESERVATION OF BENEFIT You may request that your withdrawal benefit be preserved for your later retirement. In this case, your benefit must be transferred to another approved fund. The new fund must acknowledge receipt of the transfer value by signing an Acknowledgement of Receipt (AOR). Once the administrators of the Fund receive this form, your local tax office will be requested to issue a nil tax directive, which means that no tax is payable on this transfer. The fund to which you transfer your benefit will fall into one of the following categories. 5.1 Your new employer s fund If you are leaving the University to join a new employer who offers a retirement fund to employees you may be entitled to transfer your withdrawal benefit to that fund. This is, however, dependent on the rules of the new fund allowing such transfers. The benefits that you will eventually enjoy under the new fund, and the options offered to you, will depend on the new fund s rules and benefit structure. Normally, there are no costs involved in such transfers. 5.2 Retirement annuity funds A retirement annuity fund is an individual policy which is drawn up by an insurance company. Money is invested in the policy until you decide to retire. When you retire you may take up to a third of the value of the policy as a single cash amount. The balance must then be used to purchase a pension. This pension can normally be bought from any insurance company. You may not remove your funds from the policy before you retire under the policy. If you already have a retirement annuity policy, you can request that your money be transferred to your existing policy. Please indicate the name of your retirement annuity policy and the policy number very clearly on your withdrawal form.

5 5 of 10 Your financial adviser will be able to provide you with further information on the various retirement annuity funds that are available, and the various investment options offered by the policies. 5.3 Preservation funds Preservation funds are set up specifically to receive withdrawal benefits from retirement funds. Money transferred to a preservation fund is invested until you decide to retire. There are preservation pension and preservation provident funds. Because the USRF is a provident fund, you may use only preservation provident funds. When you retire under a preservation provident fund, you may choose to receive you full retirement benefit in cash or to use a portion of it to purchase an external pension. A unique characteristic of a preservation fund is that it allows you to make one single withdrawal from the fund before your actual retirement. Such withdrawals are taxable. In terms of the current legislation the University of Stellenbosch must register as a participating member of any preservation fund to which you wish to belong before you leave the employment of the University. You and your financial adviser must thus provide the required documentation timorously if the University is not already a participating employer of the preservation fund of your choice. Please note the following important conditions concerning the use of preservation funds: i) you must apply six months before your retirement date for the transfer and that your employer also must have registered before your retirement date as a participating employer in the trust fund of your choice. Otherwise you will not be allowed to transfer your withdrawal benefit to the trust fund; ii) If you use any portion of your withdrawal benefit for settling a housing loan, it will be regarded as the single permitted withdrawal under the preservation fund. No further withdrawals will be allowed. The amount used to settle the housing loan will be taxable; iii) You may not transfer your withdrawal benefit to more than one preservation fund.

6 6 of THIRD DIMENSION ENDOWMENT POLICIES If you earlier had the option to invest a portion of your Fund Value in a Third Dimension Endowment Policy, and decided to do so, you need to take further decisions in this regard. If you have not invested in 3D policies, you can ignore Section 6. When you resign you have the following choices with regard to your 3D policy: i) You can request to cash the 3D policy under the Fund, and to add these proceeds to your Fund Credit. Thereafter you can choose to receive your Fund Credit (which now includes the proceeds of your 3D policy) in cash or to retain it for retirement. ii) Alternatively, you can request to take cession of your endowment policy, in which case the Fund will arrange that the ownership of the policy be transferred to you. You thus take ownership of the policy. In such a case, however, the Receiver of Revenue will consider that you received this portion of your benefit as a cash amount, and consequently you will not be able to transfer the balance of your Fund Benefit to a preservation fund (see also 9.3). You may transfer the balance to a retirement annuity fund. The workings and applications of 3D policies are fairly complicated and you are strongly advised to contact a knowledgeable financial adviser if you have invested in a policy of this kind. 7. WHICH FUND? Before you decide which fund you wish to transfer your withdrawal benefit to, you should take the following into account: i) What long-term risks are you willing to accept in your retirement planning? ii) Will you have access to your funds before you retire, in cases of genuine need? iii) How much adaptability and choice do you want? iv) What are the costs involved? v) Will you take cession of your 3D policies? 8. YOUR FINANCIAL ADVISER It may be valuable for you to talk to a financial adviser before you decide on which annuity or on which format your retirement benefit will take. The question, however, is how one chooses a financial adviser.

7 7 of 10 Financial advisers usually fall into two categories: i) Agents (also called representatives) are those who are linked to a specific insurance company and usually sell only the products of that company; or ii) Independent brokers who can advise you on the products of various insurance companies. Many people choose their financial advisers on the recommendations of their friends or family members. Your financial adviser must, however, be qualified, knowledgeable and reliable. Your financial adviser must also understand your personal circumstances and needs. Please note that the Trustees are not in a position to recommend any adviser or group of advisers. You must make your own choice of adviser. I f, however, you are unable to decide, you can contact the local office of any of the larger insurance companies. Ask to speak with an agent of that company. Alternatively you can make use of the services of an independent broker. Independent brokers can be self-employed or belong to one of the larger co-operative financial services companies, who employ a large number of brokers. Financial advisers are remunerated by means of a commission, as laid down in the insurance act. This remuneration is with respect to the work they do for you and the expertise they offer. You are thus advised to gather comprehensive advice from your adviser. You may ask that your adviser level of commission he or she earns. 9. ADDITIONAL INFORMATION 9.1 How do I inform the fund administrators that I intend withdrawing from the University of Stellenbosch Retirement Fund? When you resign from your position at the University you must complete two forms. The one is the University s resignation form and the other is the withdrawal claim form. Once you have completed the withdrawal claim form, the Human Resources Division will send it to the Fund s administrators, Alexander Forbes Financial Services. Both forms are available from the Human Resources Division.

8 8 of When can I expect my retirement benefits to be paid out to me? The administrators will attempt to pay your retirement benefits on your last day of service, but after the following procedures have been completed: i) Your retirement claim form has been completed; ii) You have indicated the annuity product you wish your funds to be paid to (if you have chosen buy an annuity); iii) Your claim form has been checked by the Human Resources Division; The administrators have calculated your benefit, including the investment income you have earned; and iv) A tax directive has been issued by your local tax office. Generally the reasons for delays in the payment of benefits are that the claim form has not been filled in completely or the Receiver of Revenue will not issue a tax directive because of difficulties with the member s tax returns. 9.3 Can I take a portion of my withdrawal benefit as a single amount and transfer the balance to a preservation fund? No. The only circumstance in which it might be allowed by the Receiver of Revenue is when a portion of your withdrawal benefit is used to settle a debt to your employer in terms of Section 37D of the Act on Pension Funds. In such cases the cash portion used to settle the debt will be regarded as your one allowed withdrawal under the preservation fund, and will also be taxable. 9.4 May I cede a portion of my withdrawal benefit to a third party? No. In terms of the pension fund law you may not cede any portion of your withdrawal benefit to third party. The only exception to this rule is a guarantee that a fund might offer for a housing loan, and a divorce order issued by a court that includes your Fund Benefits. 9.5 If my withdrawal benefits are not paid in time will I receive any interest on them? Yes. The Trustees have decided that interest must be paid on late payment of benefits. This rate is linked to 32-day fixed deposit rates available at the larger commercial banks.

9 9 of Tax on Unclaimed Benefits Members should note the implications of General Note 35 issued by the South African Revenue Services (SARS). In terms of GN 35, which deals with unclaimed benefits, a benefit not claimed for SIX months after the member s accrual date (i.e. the date on which the member left the Fund) will be regarded as unclaimed and the administrator of the fund must make application to the Receiver for an assessment. The Receiver presently levies tax on these unclaimed benefits at a rate of 40%. Withdrawals from a retirement fund are taxable unless they are transferred to another approved pension-, provident-or retirement annuity fund (subject to the requirements of the Income Tax Act). Thus, if a member plans to transfer his benefit tax-free to another fund, but takes longer than six months to give the instruction to the administrator of the fund, the administrator is obliged to advise the Receiver that the benefit has not been claimed, and the Receiver will tax the benefit at a rate of 40%. Neglect to exercise the transfer options within six months of the date of withdrawal, will result in the member forfeiting the option of deferring the taxation of his/her withdrawal benefit to a future date. The benefits of such members will be fully taxed as single-amount cash withdrawals. If a member s unclaimed benefit has been taxed at 40% and the member later comes forward to claim his benefit in cash, a tax assessment will again be issued. If the member s average tax rate was more than 40%, the administrator will be obliged to deduct the tax due from the member s benefit before the remainder can be paid out to the member. The opposite is also true: where the member has paid too much tax, the member must contact The Receiver to reclaim the tax owed. In conclusion, members should take note that if the withdrawal amount has not been received within the prescribed time framework, their benefits will be subject to penalties and interest when they are taxed. If the employer or the member neglects to provide the required withdrawal instruction to the Fund, it will have a negative effect on the Fund, especially where the potential penalties and interest for the neglect to apply for a tax assessment and pay the tax in the time prescribed by The Receiver, are greater than the

10 10 of 10 member s benefit in the Fund. The balance of these penalties will have to be carried by the Fund, which will, thereafter, have to claim the loss incurred back from the party incurring it. 10. CONCLUSION You might perhaps feel inclined to spend your withdrawal benefit on a new car or a holiday. Remember, that this benefit represents an important element in your future financial security. The Fund, however, advises you to retain your withdrawal benefit so that you can afford a comfortable and financially stable retirement. You are also encouraged to obtain the advice of a reliable financial adviser about the investment of this benefit for your retirement. NOTE This guide is not a complete and comprehensive document. Rather it is compiled to point out some important aspects concerning your retirement under the University of Stellenbosch Retirement Fund. The guide will be updated from time to time, but may not, at certain stages, be fully up to date. Your financial adviser will be available to inform you of the latest changes in legislation. The guide describes various benefits offered under the University of Stellenbosch Retirement Fund. The benefits enjoyed by members under the Fund are described in the registered Rules of the Fund. Although everything possible is done to ensure that this guide is accurate, the Rules of the Fund are decisive in the event of any dispute. This guide does not cover the independent Group Life Insurance Scheme of the University of Stellenbosch. July 2008 RM0379-Retirement Fund Guide to the Withdrawal Process (excluding retirement on pension) (January 2011)

STELLENBOSCH UNIVERSITY RETIREMENT FUND GUIDE FOR NEW MEMBERS

STELLENBOSCH UNIVERSITY RETIREMENT FUND GUIDE FOR NEW MEMBERS 1 of 9 STELLENBOSCH UNIVERSITY RETIREMENT FUND GUIDE FOR NEW MEMBERS SECTION 1 The intention of the University of Stellenbosch Retirement Fund (USRF) is to provide the best available benefits for contributions

More information

CHAPTER 8 TAX CONSIDERATIONS

CHAPTER 8 TAX CONSIDERATIONS CHAPTER 8 TAX CONSIDERATIONS Life insurance traditionally has enjoyed favorable tax treatment. The major advantages are (1) the death benefits of a life policy payable to a beneficiary are not subject

More information

The Personal Portfolios Retirement Annuity Fund

The Personal Portfolios Retirement Annuity Fund The Personal Portfolios Retirement Annuity Fund What is the purpose of the Fund? Sanlam Investment Management ( SIM ) provides an solution within the Sanlam Investment Management Retirement Plan. This

More information

Comparison of Retirement Funds 25 March 2015

Comparison of Retirement Funds 25 March 2015 Comparison of Retirement s 25 March 2015 Retirement s must apply to the Registrar of Pension s for registration under the Pension s Act. In order for the and its members to qualify for various tax concessions

More information

Retirement savings vehicles Do you understand the difference? Edition Two November 2011. Author: Tania Theron

Retirement savings vehicles Do you understand the difference? Edition Two November 2011. Author: Tania Theron Author: Tania Theron Retirement savings vehicles Do you understand the difference? We often see articles urging us to save for retirement in order to live a comfortable life the day we retire. Do investors

More information

Hollard Retirement Annuity Plan

Hollard Retirement Annuity Plan Hollard Retirement Annuity Plan I n f o r m a t i o n d o c u m e n t Hollard Retirement Annuity Plan This document contains general information about the Hollard Retirement Annuity Plan and is not the

More information

ALLAN GRAY LIVING ANNUITY TERMS AND CONDITIONS

ALLAN GRAY LIVING ANNUITY TERMS AND CONDITIONS ALLAN GRAY LIVING ANNUITY TERMS AND CONDITIONS Allan Gray Living Annuity Terms and Conditions Policy document This document is your Policy Document. It summarises the Allan Gray Living Annuity and sets

More information

Key Features Document

Key Features Document Keyfacts Key Features Document Transact Section 32 Buy Out Bond IntegraLife UK Limited A firm authorised and by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and

More information

TAKING CONTROL OF YOUR PENSION PLAN. The value of pension contributions

TAKING CONTROL OF YOUR PENSION PLAN. The value of pension contributions TAKING CONTROL OF YOUR PENSION PLAN If you add together all the money you have in pension arrangements, the total may well dwarf every other investment you ever make. Despite this, many people are happy

More information

Additional Voluntary Contributions (AVCs)

Additional Voluntary Contributions (AVCs) AVCs FINAL SALARY SECTION Important Note: With effect from 1st November 2015, no new Added Years AVC arrangements will be permitted. Existing contracts will not be affected by this change. Additional Voluntary

More information

CHAPTER 4 - TAX PREFERENCES FOR SUPERANNUATION AND LIFE INSURANCE SAVINGS

CHAPTER 4 - TAX PREFERENCES FOR SUPERANNUATION AND LIFE INSURANCE SAVINGS 45 CHAPTER 4 - TAX PREFERENCES FOR SUPERANNUATION AND LIFE INSURANCE SAVINGS 4.1 Introduction In general, superannuation and life insurance have not been subject to the normal income tax treatment for

More information

Options available to members on leaving their retirement fund

Options available to members on leaving their retirement fund Options available to members on leaving their retirement fund Applicable to members leaving post March 2009 The contents of this document This document explains the different options you have available

More information

RE 7: Second Level Regulatory Examination: Long Term Insurance Category B, Long Term Insurance Category C And Retail Pension Funds

RE 7: Second Level Regulatory Examination: Long Term Insurance Category B, Long Term Insurance Category C And Retail Pension Funds COMPLIANCE MONITORING SYSTEMS CC RE 7: Second Level Regulatory Examination: Long Term Insurance Category B, Long Term Insurance Category C And Retail Pension Funds Alan Holton December 2009 All representatives

More information

your share incentive plan

your share incentive plan your share incentive plan 1 Contents What is Match?... 4 Match... 4 How do I get shares under Match?... 5 Shares you buy: Partnership Shares... 5 Shares given to you by Matchtech Group: Match Shares...

More information

ALLAN GRAY RETIREMENT ANNUITY FUND CONDITIONS OF MEMBERSHIP

ALLAN GRAY RETIREMENT ANNUITY FUND CONDITIONS OF MEMBERSHIP ALLAN GRAY RETIREMENT ANNUITY FUND CONDITIONS OF MEMBERSHIP Allan Gray Retirement Annuity Fund Conditions of Membership This is an overview of the Conditions of Membership of the Allan Gray Retirement

More information

RETIREMENT ANNUITY CONDITIONS OF MEMBERSHIP EFFECTIVE 24 MAY 2016 VERSION 11.0

RETIREMENT ANNUITY CONDITIONS OF MEMBERSHIP EFFECTIVE 24 MAY 2016 VERSION 11.0 RETIREMENT ANNUITY CONDITIONS OF MEMBERSHIP EFFECTIVE 24 MAY 2016 VERSION 11.0 Allan Gray Retirement Annuity Fund Conditions of Membership This is an overview of the Conditions of Membership of the Allan

More information

Additional Voluntary Contribution (AVC) Plan

Additional Voluntary Contribution (AVC) Plan Public Service Executive Union Additional Voluntary Contribution (AVC) Plan Explanatory Booklet ffgeneral contents Introduction 3 Introduction 4 The Additional Voluntary Contribution Plan 5 What are Additional

More information

THE ITC BUY OUT BOND BROCHURE. www.independent-trustee.com

THE ITC BUY OUT BOND BROCHURE. www.independent-trustee.com THE ITC BUY OUT BOND BROCHURE www.independent-trustee.com If you were the member of an occupational pension scheme, leaving or have left employment, or your pension scheme is being wound up, it is time

More information

Tax planning for retirement By Jenny Gordon, head: Retail Legal

Tax planning for retirement By Jenny Gordon, head: Retail Legal Tax planning for retirement By Jenny Gordon, head: Retail Legal Agenda Tax deductions on contributions from 1 March 2015 Non-retirement funding income Tax during build up Tax on transfers Tax on lump sum

More information

- on termination due to redundancy

- on termination due to redundancy The Increased Tax on Lump Sum Termination Payments By Ray Stevens (USA) INTRODUCTION In May, 1983, the Government announced increases in the taxation payable on lump sum superannuation benefits and on

More information

DURBAN PENSION FUND (the Fund)

DURBAN PENSION FUND (the Fund) DURBAN PENSION FUND (the Fund) EXPLANATION OF PENSION BENEFITS 2014-09 Edition Telephone : 031 311 1611 Facsimile : 031 311 1617 E-Mail : dbnpens @ durban.gov.za CONTENTS PAGE 1. WHAT TYPE OF FUND DO WE

More information

Smart End of Financial Year Strategies

Smart End of Financial Year Strategies Level 7,34 Charles St Parramatta Parramatt NSW 2150 PO Box 103 Parramatta NSW 2124 Phone: 02 9687 1966 Fax: 02 9635 3564 Web: www.carnegie.com.au Build Guide Protect Manage Wealth Smart End of Financial

More information

POLICY CONDITIONS Approved Minimum Retirement Fund (PC AM5 02/11)

POLICY CONDITIONS Approved Minimum Retirement Fund (PC AM5 02/11) POLICY CONDITIONS Approved Minimum Retirement Fund (PC AM5 02/11) Section 1 Section 2 Section 3 Section 4 Section 5 Section 6 Contract and definitions Contributions The funds Unit linking Benefits & Options

More information

Personal Retirement Bond

Personal Retirement Bond Personal Retirement Bond Customer Guide This Customer Guide is to be read in conjunction with the Fund Guide. Introduction This guide applies to the Personal Retirement Bond. Zurich Life Assurance plc

More information

Self Directed Personal Retirement Bond. Personal Retirement Benefits Brochure

Self Directed Personal Retirement Bond. Personal Retirement Benefits Brochure Self Directed Personal Retirement Bond Personal Retirement Benefits Brochure Contents Section 1: What is a Personal Retirement Bond? 2 Section 2: Definitions 3 Section 3: Contributions 4 Section 4: Charges

More information

Limits to tax relief and tax-free benefits

Limits to tax relief and tax-free benefits TAX LIMITS FINAL SALARY AND CAREER REVALUED BENEFITS SECTIONS Limits to tax relief and tax-free benefits Introduction Pension benefits earned by individuals in the UK which qualify to receive tax relief

More information

IIPM/Professional Diploma in Pensions. Retirement Provision Module. 8th January 2011. Examination Paper. Examiner Solutions

IIPM/Professional Diploma in Pensions. Retirement Provision Module. 8th January 2011. Examination Paper. Examiner Solutions IIPM/Professional Diploma in Pensions Retirement Provision Module 8th January 2011 Examination Paper Examiner Solutions Examiner s Solutions - Page 1 of 14 30 MARKS PER QUESTION. TOTAL MARKS = 120 1(a)

More information

Life Insurance Premium Limits (MECs)

Life Insurance Premium Limits (MECs) Life Insurance Premium Limits (MECs) Life insurance contracts enjoy a special tax benefit because the growth in cash values during the term of the contract is not currently taxed. In addition, when there

More information

Base Plan Account Withdrawal

Base Plan Account Withdrawal Base Plan Account Withdrawal Purpose of the Form Use this form to choose how you want PERSI to handle the withdrawal of your PERSI Base Plan contributions and interest when you terminate employment with

More information

Life Insurance Gifts: Planning Considerations

Life Insurance Gifts: Planning Considerations Life Insurance Gifts: Planning Considerations Gifts of life insurance are an additional option for charitable giving. While life insurance is not the answer to every financial planning and estate planning

More information

Old Mutual Namibia The ORION Namibia Pension/Provident Fund

Old Mutual Namibia The ORION Namibia Pension/Provident Fund Old Mutual Namibia The ORION Namibia Pension/Provident Fund Frans Cronje CANNING PLANT GENERAL MANAGER Orion I have over 50 employees and we needed a solution that could match the diverse needs of the

More information

Unlocking the value of whole life

Unlocking the value of whole life An Educational Guide for Individuals Unlocking the value of whole life Whole life insurance as a financial asset Insurance Strategies Contents 3 Whole life insurance: A versatile financial asset 4 Providing

More information

F I N N I N G I N T E R N A T I O N A L I N C. R O I E M P L O Y E E S H A R E P U R C H A S E P L A N

F I N N I N G I N T E R N A T I O N A L I N C. R O I E M P L O Y E E S H A R E P U R C H A S E P L A N F I N N I N G I N T E R N A T I O N A L I N C. R O I E M P L O Y E E S H A R E P U R C H A S E P L A N CONTENTS WELCOME TO THE FINNING INTERNATIONAL INC. ROI EMPLOYEE SHARE PURCHASE PLAN... 3 BUILDING

More information

Limits to tax relief and tax-free benefits

Limits to tax relief and tax-free benefits TAX LIMITS FINAL SALARY AND CAREER REVALUED BENEFITS SECTIONS Limits to tax relief and tax-free benefits Introduction Pension benefits accrued by individuals in the UK which qualify to receive tax relief

More information

KEY INFORMATION DOCUMENT

KEY INFORMATION DOCUMENT KEY INFORMATION DOCUMENT PAGE 0 This document is a summary of key information about the PSG Wealth Retirement Annuity. It will help you to understand the product and make an informed decision. This is

More information

RETIREMENT FUND MEMBER INFORMATION

RETIREMENT FUND MEMBER INFORMATION RETIREMENT FUND MEMBER INFORMATION OPTIONS ON RESIGNATION, RETRENCHMENT OR DISMISSAL If you resign, or are retrenched or dismissed, your membership of your retirement fund will come to an end. The fund

More information

What happens to the member s pension?

What happens to the member s pension? How long will it take to pay? GEPF must pay or transfer the money within 60 days of being informed of the non-member former spouse s choice. If the former spouse does not make a choice or identify an approved

More information

Gains on foreign life insurance policies

Gains on foreign life insurance policies Helpsheet 321 Tax year 6 April 2013 to 5 April 2014 Gains on foreign life insurance policies A Contacts Introduction Page 2 Part 1 Types of policy Page 3 What sort of policy do you have? Page 3 When will

More information

Retirement planning with Group Superannuation. ICICI Prudential Group Superannuation Plan. Eligibility. Superannuation Benefits payable

Retirement planning with Group Superannuation. ICICI Prudential Group Superannuation Plan. Eligibility. Superannuation Benefits payable Retirement planning with Group Superannuation After a valuable professional career with an organization, employees require the security of a regular income flow when they retire. Organizations help employees

More information

Key Features of the Ascentric Pension Account (SIPP)

Key Features of the Ascentric Pension Account (SIPP) Key Features of the Ascentric Pension Account (SIPP) Introduction The Financial Conduct Authority is a financial services regulator. It requires us, Investment Funds Direct Limited (IFDL), to give you

More information

\* MERGEFORMAT. TAXATION In South Africa 2014 / 2015

\* MERGEFORMAT. TAXATION In South Africa 2014 / 2015 \* MERGEFORMAT TAXATION In South Africa 2014 / 2015 March 2014 INCOME TAX 2014 / 2015 Taxation of retirement provision in South Africa is based on the E E T principle which implies that contributions are

More information

Understanding Superannuation

Understanding Superannuation Understanding Superannuation Client Fact Sheet July 2012 Superannuation is an investment vehicle designed to assist Australians save for retirement. The Federal Government encourages saving through superannuation

More information

SENTINEL RETIREMENT FUND RULES

SENTINEL RETIREMENT FUND RULES SENTINEL RETIREMENT FUND RULES November 2013 TABLE OF CONTENTS PAGE 1. INTRODUCTION... 1 2. DEFINITIONS... 2 3. MEMBERSHIP... 8 4. CONTRIBUTIONS... 11 4.1 Contributions by MEMBERS and EMPLOYERS... 11 4.2

More information

Optional Retirement Program (ORP) Summary Plan Description

Optional Retirement Program (ORP) Summary Plan Description Optional Retirement Program (ORP) Summary Plan Description April 2012 Table of Contents Establishment............................................... 1 Eligibility...................................................

More information

secure your future the lump sum scheme Everything you need to know about your super DIVISION 2 - MEMBERS BOOKLET DIVISION 2 - MEMBERS BOOKLET

secure your future the lump sum scheme Everything you need to know about your super DIVISION 2 - MEMBERS BOOKLET DIVISION 2 - MEMBERS BOOKLET the lump sum scheme secure your future Everything you need to know about your super DIVISION 2 - MEMBERS BOOKLET 1 Adding power to your financial future 3 THE LUMP sum scheme MADE EASY 4 CONTRIBUTIONS

More information

2014/15. Year End. Tax Planning. With careful tax planning, it may be possible to mitigate taxes or make them much more manageable

2014/15. Year End. Tax Planning. With careful tax planning, it may be possible to mitigate taxes or make them much more manageable FINANCIAL GUIDE A GUIDE TO 2014/15 Year End Tax Planning With careful tax planning, it may be possible to mitigate taxes or make them much more manageable A GUIDE TO 2014/15 YEAR END TAX PLANNING With

More information

Retirement. This factsheet sets out the circumstances under which you may retire and receive a pension from USS.

Retirement. This factsheet sets out the circumstances under which you may retire and receive a pension from USS. RETIREMENT FINAL SALARY SECTION Retirement This factsheet sets out the circumstances under which you may retire and receive a pension from USS. From what age can I receive my retirement benefits from USS?

More information

Product Disclosure Statement

Product Disclosure Statement AMP Retirement Savings Account Product Disclosure Statement Contents 1. About AMP Retirement Savings Account 2. How super works 3. Benefits of investing with AMP Retirement Savings Account 4. Risks of

More information

TABLE OF CONTENTS: PART A: EXAMPLES

TABLE OF CONTENTS: PART A: EXAMPLES TABLE OF CONTENTS: PART A: EXAMPLES Compound interest calculations Example 1: Determine the future value of a single payment (lump sum)... 3 Example 2: Determine the annual rate of interest earned by an

More information

GN11A(ROI): CALCULATIONS REQUIRED UNDER THE FAMILY LAW ACT, 1995 OR THE FAMILY LAW (DIVORCE) ACT, 1996

GN11A(ROI): CALCULATIONS REQUIRED UNDER THE FAMILY LAW ACT, 1995 OR THE FAMILY LAW (DIVORCE) ACT, 1996 GN11A(ROI): CALCULATIONS REQUIRED UNDER THE FAMILY LAW ACT, 1995 OR THE FAMILY LAW (DIVORCE) ACT, 1996 Classification Practice Standard Legislation or Authority This Guidance Note must be read in conjunction

More information

Meeting with your Financial Planner: Helpful Directions

Meeting with your Financial Planner: Helpful Directions Meeting with your Financial Planner: Helpful Directions Please consider the following before our meeting: Information we anticipate you will need to provide at our first consultation: Part 1 1. Your domestic

More information

Understanding Annuities

Understanding Annuities This guide: Explains the different types of annuity contracts Describes the various contractual features Discusses how to shop for an annuity State of Wisconsin Office of the Commissioner of Insurance

More information

RETIREMENT ACCOUNT ADVISER TECHNICAL GUIDE

RETIREMENT ACCOUNT ADVISER TECHNICAL GUIDE RETIREMENT ACCOUNT ADVISER TECHNICAL GUIDE This information is for UK financial adviser use only and should not be distributed to or relied upon by any other person. INTRODUCTION THE RETIREMENT ACCOUNT

More information

A Guide to Planned Giving

A Guide to Planned Giving A Guide to Planned Giving Dear Friend of Mosaic, Planned giving provides many benefits for you and Mosaic. There are ways to increase your income now or in the future and save money on taxes. With a planned

More information

Year-end Tax Planning Guide - 30 June 2013 BUSINESSES

Year-end Tax Planning Guide - 30 June 2013 BUSINESSES Year-end Tax Planning Guide - 30 The end of the financial year is fast approaching. In the lead up to 30 June, this newsletter covers some of the year-end tax planning matters for your consideration. BUSINESSES

More information

PROVIDENT FUND POST-RETIREMENT ANNUITY ALIGNMENT

PROVIDENT FUND POST-RETIREMENT ANNUITY ALIGNMENT New Tax Treatment for Funds & Contributions PROVIDENT FUND POST-RETIREMENT ANNUITY ALIGNMENT Background 1. There are three basic types of retirement funds in the South African retirement system: Pension

More information

Pensions Tax Reliefs. 03333 219 000 advice@bishopfleming.co.uk. www.bishopfleming.co.uk

Pensions Tax Reliefs. 03333 219 000 advice@bishopfleming.co.uk. www.bishopfleming.co.uk Pensions Tax Reliefs Types of pension schemes There are two broad types of pension schemes from which an individual may eventually be in receipt of a pension: Workplace pension schemes Personal Pension

More information

SELECT SIPP. Taking pension benefits guide

SELECT SIPP. Taking pension benefits guide SELECT SIPP Taking pension benefits guide Please read this guide in conjunction with the Alliance Trust Savings Handbook and the appropriate Key Features documents. Alliance Trust Savings does not give

More information

Tax treatment of Retirement Fund benefits

Tax treatment of Retirement Fund benefits Tax treatment of Retirement Fund benefits Pension Lawyers Association Seminar June 2011 Janine Player email: jplayer@oldmutual.com Agenda Joining a fund types of funds Leaving a fund Withdrawal Divorce

More information

3. The law For ease of reference, the relevant sections of the Act are quoted in the Annexure.

3. The law For ease of reference, the relevant sections of the Act are quoted in the Annexure. INTERPRETATION NOTE: NO. 55 (Issue 2) DATE: 30 March 2011 ACT : INCOME TAX ACT NO. 58 OF 1962 (the Act) SECTION : SECTION 8C AND 10(1)(nD), PARAGRAPH 11A OF THE FOURTH SCHEDULE AND PARAGRAPH 2(a) OF THE

More information

IRELAND EMPLOYEE BENEFITS SHARE INCENTIVE SCHEMES MAY 2013

IRELAND EMPLOYEE BENEFITS SHARE INCENTIVE SCHEMES MAY 2013 IRELAND EMPLOYEE BENEFITS SHARE INCENTIVE SCHEMES MAY 2013 CONTENTS Page No 1 Introduction...3 1.1 Share incentive schemes...3 1.2 Types of share incentive schemes...3 1.3 How we can help...4 2 Share /

More information

Financial Planning & Guidance. A Guide to Annuities. Creating your success through Financial Planning

Financial Planning & Guidance. A Guide to Annuities. Creating your success through Financial Planning & Guidance TA Contents I m approaching retirement, what are my financial options? 02 What is a Financial Broker? 03 Why would I need to use a Financial Broker? 03 What is an annuity? 05 A Guide to Annuities

More information

Guideline. Subject: Guideline for Converting Plans from Defined Benefit to Defined Contribution. Date: August 2001. Purpose

Guideline. Subject: Guideline for Converting Plans from Defined Benefit to Defined Contribution. Date: August 2001. Purpose Canada Bureau du surintendant des institutions financières Canada 255 Albert Street 255, rue Albert Ottawa, Canada Ottawa, Canada K1A 0H2 K1A 0H2 Guideline Subject: Guideline for Date: Purpose This document

More information

A brief guide to the pension provisions of the Family Law Acts

A brief guide to the pension provisions of the Family Law Acts A brief guide to the pension provisions of the Family Law Acts www.pensionsauthority.ie The Pensions Authority Verschoyle House 28/30 Lower Mount Street Dublin 2 Tel: (01) 613 1900 Locall: 1890 65 65 65

More information

Understanding Annuities

Understanding Annuities This guide: Explains the different types of annuity contracts Describes the various contractual features Discusses how to shop for an annuity State of Wisconsin Office of the Commissioner of Insurance

More information

JOINT AND SURVIVOR ANNUITY NOTICE

JOINT AND SURVIVOR ANNUITY NOTICE JOINT AND SURVIVOR ANNUITY NOTICE The purpose of this notice is to provide you as the participant and your spouse if you are married, with an explanation of the joint and survivor annuity and your rights

More information

Defined Contribution Pension Plan. Employee Brochure

Defined Contribution Pension Plan. Employee Brochure Defined Contribution Pension Plan Employee Brochure This brochure describes your Defined Contribution Pension Plan, the aim of which is to help you provide financially for your retirement. This plan is

More information

Defence Bank Super Type of fee Amount How and when paid

Defence Bank Super Type of fee Amount How and when paid Fees and Costs This fact sheet details all the fees and costs that may apply to your account. It s designed to be read in conjunction with the Product Disclosure Statement and is subject to review from

More information

IOPS Member country or territory pension system profile: TRINIDAD AND TOBAGO. Update as of 15 February 2013

IOPS Member country or territory pension system profile: TRINIDAD AND TOBAGO. Update as of 15 February 2013 IOPS Member country or territory pension system profile: TRINIDAD AND TOBAGO Report 1 issued on September 2011, validated by the Central Bank of Trinidad and Tobago Update as of 15 February 2013 1 This

More information

Nonqualified annuities can be classified in a number of ways:

Nonqualified annuities can be classified in a number of ways: The term annuity refers to any situation where principal and interest are paid out in a series of regular payments. A nonqualified annuity, generally, is an annuity purchased by an individual from a life

More information

Product Disclosure Statement

Product Disclosure Statement Product Disclosure Statement bcu Retirement Savings Account (Current as at August 20, 2014) Bananacoast Community Credit Union Ltd ABN 50 087 649 750 AFSL No. 241077 The information in this PDS is general

More information

HOSTPLUS Superannuation Fund and HOSTPLUS Personal Super Plan Member Guide. Everything you need to get the most from your super.

HOSTPLUS Superannuation Fund and HOSTPLUS Personal Super Plan Member Guide. Everything you need to get the most from your super. Everything you need to get the most from your super Product Disclosure Statement 31 October 2011 Issued by Host-Plus Pty Limited ABN 79 008 634 704, AFSL No. 244392 as trustee for the HOSTPLUS Superannuation

More information

SUMMARY REVIEW COLORADO COUNTY OFFICIALS AND EMPLOYEES RETIREMENT ASSOCIATION 457 DEFERRED COMPENSATION PLAN FOR THE

SUMMARY REVIEW COLORADO COUNTY OFFICIALS AND EMPLOYEES RETIREMENT ASSOCIATION 457 DEFERRED COMPENSATION PLAN FOR THE SUMMARY REVIEW FOR THE COLORADO COUNTY OFFICIALS AND EMPLOYEES RETIREMENT ASSOCIATION 457 DEFERRED COMPENSATION PLAN TABLE OF CONTENTS INTRODUCTION... i HIGHLIGHTS... 2 PARTICIPATION... 2 Eligibility to

More information

Pensions Tax Reliefs

Pensions Tax Reliefs Our Vision Pensions Tax Reliefs To become the Best Provider of Solutions for Businesses in Coventry & Warwickshire Types of pension schemes There are two broad types of pension schemes from which an individual

More information

Pensions - Tax Reliefs

Pensions - Tax Reliefs Pensions - Tax Reliefs Types of pension schemes There are two broad types of pension schemes from which an individual may eventually be in receipt of a pension: Occupational schemes Personal Pension schemes.

More information

Life Insurance Tutorial & Calculation Worksheet

Life Insurance Tutorial & Calculation Worksheet Life Insurance Tutorial & Calculation Worksheet Provided By NAVY MUTUAL AID ASSOCIATION Henderson Hall, 29 Carpenter Road, Arlington, VA 22212 Telephone 800-628-6011-703-614-1638 - FAX 703-945-1441 E-mail:

More information

SPECIAL TAX NOTICE REGARDING PLAN PAYMENTS

SPECIAL TAX NOTICE REGARDING PLAN PAYMENTS SPECIAL TAX NOTICE REGARDING PLAN PAYMENTS This notice explains how you can continue to defer federal income tax on your retirement savings and contains important information you will need before you decide

More information

Product Disclosure Statement

Product Disclosure Statement Product Disclosure Statement MYSUPER AUTHORISATION NUMBER 72229227691044 1 July 2014 NESS Super, the industry fund to power your financial future inside 1 About NESS Super 2 2 How super works 2 3 Benefits

More information

2014/15. Year End. Tax Planning A GUIDE TO WITH CAREFUL TAX PLANNING, IT MAY BE POSSIBLE TO MITIGATE TAXES OR MAKE THEM MUCH MORE MANAGEABLE

2014/15. Year End. Tax Planning A GUIDE TO WITH CAREFUL TAX PLANNING, IT MAY BE POSSIBLE TO MITIGATE TAXES OR MAKE THEM MUCH MORE MANAGEABLE FINANCIAL GUIDE A GUIDE TO 2014/15 Year End Tax Planning WITH CAREFUL TAX PLANNING, IT MAY BE POSSIBLE TO MITIGATE TAXES OR MAKE THEM MUCH MORE MANAGEABLE Atkinson White Partnership Regency House, 51 Coniscliffe

More information

PENSION PRESERVATION FUND CONDITIONS OF MEMBERSHIP EFFECTIVE 24 MAY 2016 VERSION 11.0

PENSION PRESERVATION FUND CONDITIONS OF MEMBERSHIP EFFECTIVE 24 MAY 2016 VERSION 11.0 PENSION PRESERVATION FUND CONDITIONS OF MEMBERSHIP EFFECTIVE 24 MAY 2016 VERSION 11.0 Allan Gray Pension Preservation Fund - Conditions of Membership This is an overview of the Conditions of Membership

More information

Sample. Table of Contents. Introduction... 1. What is the difference between a regular 401(k) deferral (pre-tax) and a Roth 401(k) deferral?...

Sample. Table of Contents. Introduction... 1. What is the difference between a regular 401(k) deferral (pre-tax) and a Roth 401(k) deferral?... Table of Contents Introduction... 1 What is the difference between a regular 401(k) deferral (pre-tax) and a Roth 401(k) deferral?... 2 Who is eligible to make a Roth 401(k) deferral?... 3 Roth IRAs have

More information

LIFE INSURANCE. and INVESTMENT

LIFE INSURANCE. and INVESTMENT INVESTMENT SAVINGS & INSURANCE ASSOCIATION OF NZ INC GLOSSARY OF LIFE INSURANCE and INVESTMENT TERMS 2 Accident Benefit A benefit payable should death occur as the result of an accident. It may be a stand-alone

More information

Mailing Address: Des Moines, IA 50392-0001

Mailing Address: Des Moines, IA 50392-0001 Mailing Address: Des Moines, IA 50392-0001 Principal Life Insurance Company Complete this form to withdraw part of the retirement account in cash while still employed. Participant/Spouse complete Sections

More information

A Guide to Approved Retirement Funds (ARF)

A Guide to Approved Retirement Funds (ARF) & Guidance RF A Guide to Approved Retirement Funds (ARF) A Guide to Approved Retirement Funds Contents I m approaching retirement, what are my financial options? 02 What is a Financial Broker? 03 Why would

More information

WHAT IS EQUITY RELEASE? WHY CONSIDER EQUITY RELEASE?

WHAT IS EQUITY RELEASE? WHY CONSIDER EQUITY RELEASE? WHAT IS EQUITY RELEASE? Equity Release can free some of the capital tied up in your home, while you continue to live there. This money can be in the form of a tax-free lump sum, a regular income or a combination

More information

The Personal Range Key Features of the Individual Personal Pension Transfer Value Account

The Personal Range Key Features of the Individual Personal Pension Transfer Value Account The Personal Range Key Features of the Individual Personal Pension Transfer Value Account Reference MPEN11/F 07.15 The Financial Conduct Authority is a financial services regulator. It requires us, Friends

More information

Personal Retirement Savings Accounts. Policyholders Guide

Personal Retirement Savings Accounts. Policyholders Guide Personal Retirement Savings Accounts Policyholders Guide Stay up to date with your pension savings! We offer a number of great online tools to keep you informed about your investments Visit our website

More information

Module 10 S Corporation/Corporation Workbook Introduction

Module 10 S Corporation/Corporation Workbook Introduction Module 10 Workbook Introduction Running your own business presents many challenges. One of the most difficult is complying with complex and ever-changing tax laws. This small-business tax education program

More information

Y O U R E N R O L L M E N T K I T GROUP INSURANCE. Group Universal Life Dependent Term Life. Issued by The Prudential Insurance Company of America

Y O U R E N R O L L M E N T K I T GROUP INSURANCE. Group Universal Life Dependent Term Life. Issued by The Prudential Insurance Company of America Y O U R E N R O L L M E N T K I T GROUP INSURANCE Group Universal Life Dependent Term Life Issued by The Prudential Insurance Company of America California Resources Corporation (CRC) All Regular Full-Time

More information

EXPLANATION OF DIRECT ROLLOVER OPTION

EXPLANATION OF DIRECT ROLLOVER OPTION EXPLANATION OF DIRECT ROLLOVER OPTION You have the right to consider the decision whether or not to elect a direct rollover for at least 30 days after this Explanation is provided to you. This notice explains

More information

H.T. BAILEY INSURANCE GROUP 401(k) PLAN Case # 943-80987. ELECTION OF PAYMENT METHOD (Please Print Clearly)

H.T. BAILEY INSURANCE GROUP 401(k) PLAN Case # 943-80987. ELECTION OF PAYMENT METHOD (Please Print Clearly) H.T. BAILEY INSURANCE GROUP 401(k) PLAN Case # 943-80987 ELECTION OF PAYMENT METHOD (Please Print Clearly) PARTICIPANT NAME: DATE OF BIRTH: SOCIAL SECURITY NUMBER: DATE OF HIRE: DATE OF TERMINATION: DO

More information

Considering IRA Rollovers. Making the right distribution decision now can make a big difference down the road.

Considering IRA Rollovers. Making the right distribution decision now can make a big difference down the road. Considering IRA Rollovers Making the right distribution decision now can make a big difference down the road. Considering IRA Rollovers Are you changing jobs? careers? Retiring? If you are planning to

More information

Is Your Financial Portfolio an Unfinished Work? Color It with a Life Insurance Retirement Plan Protection Now, Income Later

Is Your Financial Portfolio an Unfinished Work? Color It with a Life Insurance Retirement Plan Protection Now, Income Later Life Insurance Client Guide The Art of Retirement Is Your Financial Portfolio an Unfinished Work? Color It with a Life Insurance Retirement Plan Protection Now, Income Later AD-OC-770D 1 Picture Your Future

More information

Financial Planning & Guidance. A Guide to Annuities. Creating your success through Financial Planning

Financial Planning & Guidance. A Guide to Annuities. Creating your success through Financial Planning & Guidance TA Contents I m approaching retirement, what are my financial options? 02 What is a Financial Broker? 03 Why would I need to use a Financial Broker? 03 What is an annuity? 05 A Guide to Annuities

More information

Some proven financial advice strategies

Some proven financial advice strategies Some proven financial advice strategies There are numerous key financial advice strategies that may put you on the road to achieving your financial goals Debt Management Debt consolidation can lower repayments

More information

KEY GUIDE. Drawing profits from a company

KEY GUIDE. Drawing profits from a company KEY GUIDE Drawing profits from a company Constantly changing tax rules When you draw profits from an owner-managed company most people are keen to ensure that they do it in a way that minimises the tax

More information

KEY GUIDE. Drawing profits from a company

KEY GUIDE. Drawing profits from a company KEY GUIDE Drawing profits from a company Constantly changing tax rules When you draw profits from an owner-managed company it is important that you do it in ways that minimise the tax and national insurance

More information

Limits to tax relief and tax-free benefits

Limits to tax relief and tax-free benefits TAX LIMITS FINAL SALARY AND CAREER REVALUED BENEFITS SECTIONS Limits to tax relief and tax-free benefits Introduction Pension benefits earned by individuals in the UK, which qualify to receive tax relief,

More information

Key Features. of the Suffolk Life SIPP (Deed Poll Scheme)

Key Features. of the Suffolk Life SIPP (Deed Poll Scheme) Key Features of the Suffolk Life SIPP (Deed Poll Scheme) This document is part of a set, all of which should be read together. Key Features Your Personal Illustration Schedule of Fees Schedule of Allowable

More information

Important information. Key Features of the Teachers Additional Voluntary Contributions (AVC) Scheme

Important information. Key Features of the Teachers Additional Voluntary Contributions (AVC) Scheme Important information Key Features of the Teachers Additional Voluntary Contributions (AVC) Scheme > Contents About this booklet 4 About the Teachers AVC Scheme 5 Its aim 5 Your commitment 5 Risks 6 Questions

More information