Make sure that you save enough for a comfortable retirement

Most retirees don’t have enough saved to maintain their living standards once they retire. Often, this is due to poor planning – thinking that 65 and retirement is a long way off – or to the rising costs of retirement savings investments that charge multiple fees for all elements of the savings product. The Core Retirement Annuity from Absa is a low-cost retirement annuity based on life-stage investing, and ensures that you get the most benefit from your investment.

Lower fees
Lower fees

Total annual fees are between 0.50% and 0.56% per year, which is below the industry average.

Simple and convenient investment
Simple and convenient investment

The portfolio is automatically rebalanced based on life-stage changes and automatic risk reduction as you near retirement.

Tax benefits
Tax benefits

You may deduct up to 27,5% of your remuneration or taxable income for all contributions to retirement funds combined per tax year, subject to annual limits.

Top up your pension fund

It is an affordable way to top up your current pension or provident fund.

Applying for the Core Retirement Annuity

You can apply online through the Absa Retirement Annuity Core Portfolio, or speak directly to an adviser. If you are not an Absa customer, registering to become one is quick and easy.

Speak to a consultant 0860 000 005

Register

Apply online

Is this product for you?

The Core Retirement Annuity is ideal for you if:

  • You are self-employed or your company does not offer you a pension or provident fund
  • You are looking for a low-cost retirement solution
  • You want to reduce your tax liability
  • You would like to top up your pension or provident fund
  • You have more than R10 000 to invest initially and have R500 per month to invest
Benefits of the Core Retirement Annuity
  • Investment costs are low, because the portfolio’s building blocks are made up of low-cost passive investments such as exchange traded funds and notes.
  • It is a convenient investment with a portfolio that automatically adjusts each year so that your risk reduces as you get closer to retirement.
  • The investment is completely transparent, and you know where your money is invested at all times.
  • Your contributions are tax deductible by up to 15% or your non-pensionable income. Your return on investment is also tax free, and when you retire, a large portion of your cash sum is available tax free as well.
How the Core Retirement Annuity portfolio works
  • The annuity works on life-stage investing and you will be placed into the asset allocation that best suits you based on your current age and expected retirement age.
  • If you are further from retirement, your portfolio will have a greater allocation of shares (equity) and aim to produce higher returns.
  • If you are closer to retirement, the emphasis will shift to protecting your investment.
  • Your retirement annuity will be automatically adjusted each year to match the asset allocation that links to your retirement life stage.

Need more help?

Let one of our consultants help you get the best account for your needs.

Call us on:

0860 000 005