Those that want to grow and preserve their retirement fund benefits (Pension or Provident), when they leave their employment, in a tax free manner and intend to use these preserved benefits towards their future retirement.

By law you cannot make any additional monthly or lump sum contributions once you have invested in a preservation fund. You can only transfer money from a pension, provident or another preservation fund to a preservation fund.

When you leave your employer and transfer your retirement fund (pension or provident) to a preservation fund you pay no tax on the transfer and no tax while invested in the preservation fund. Only when you retire or withdraw from a preservation fund you may incur tax.

You can make one full or one partial withdrawal from your preservation fund at any time before the age of 55, subject to taxation. However if you have already taken money from your retirement fund before you transfer to a preservation fund you might not be eligible to make a withdrawal.

You can retire from your preservation fund any time after the age of 55. There might be certain tax implications when you do retire from your preservation fund that you would need to consider.

At retirement, for any non-vested benefits in a preservation fund, you are allowed to access up to 1/3rd of the funds in cash, subject to taxation, while the remaining portion must be used to purchase an income for life (Living annuity or guaranteed annuity) at retirement. If your fund value is less than R 247 500 when you retire you can access the full amount in cash, subject to taxation.

For any provident or provident preservation fund vested benefits at retirement, you can however take the full benefit as a lump sum, or take a portion of the benefit as a lump sum and purchase an annuity with the rest.

We will accept transfers for amounts of R 25 000 and more.

A board of trustees is responsible for running the Preservation fund and protecting the interests of all members. If you die while still invested in the OUTvest Preservation fund the trustees must trace those that are financially dependent on you and allocate the funds appropriately.

Yes, once your money is invested in the OUTvest preservation fund it is protected from all your creditors, thus ensuring you have something to help you retire with one day, even if you were sequestrated.

Vested benefits are accrued rights as a result of any membership in a provident fund or provident preservation fund on 1 March 2021. If you have been a member of these funds at the time, any amounts contributed or transferred to these funds, before 1 March 2021, are seen as your vested benefits. If you were 55 years or older on 1 March 2021, your vested benefits will also include any further contributions you made while you were a member of that provident fund, including fund returns. A vested benefit right gives you the right to be able to withdraw the full benefit value as a lumpsum upon retirement.

Non-vested benefits relates to any other benefits in a retirement fund, which gives you the right to be able to only withdraw up to a maximum of 1/3rd at retirement. The remaining portion of the non-vested benefit must be used to purchase an income for life (Living annuity or guaranteed annuity) at retirement.