Changing jobs? You can roll the funds from your former employer’s retirement plan into the Sygnia Pension and Provident Preservation Fund. All the tax benefits will still apply and you won’t pay any transfer or exit fees. Most importantly, your investments will be secure and growing while you figure out your next step.
“Changing jobs was so stressful! It was great to know that I could count on the Sygnia team to help me transition – and I avoided the temptation of cashing out.”
Simon, 46Advantages
Retirement savings are safeguarded.
All taxable growth, including interest income, net rental income, dividend income and capital gains, is free of tax.
No initial or exit fees apply.
Retirement savings plans that allow you to preserve your accumulated capital in an occupational pension or provident fund, with all its tax benefits, when you change employment (resignation, retrenchment or dismissal).
You may transfer from an existing preservation fund to the Sygnia Preservation Fund. You may also transfer out of the Sygnia Preservation Fund to another approved preservation, retirement annuity or occupational pension or provident fund. The allocation of your components will be transferred with the same proportions.
Limitations
You may not borrow from your investments in the Sygnia Preservation Fund.
You may not cede your investment in the Sygnia Preservation Fund, nor use it as security for any debts or commitments.
The Sygnia Preservation funds also allow for one full or partial withdrawal from your investment prior to retirement from the vested benefit in your Vested Component. The withdrawal will be subject to the relevant withdrawal tax tables. You can also access a withdrawal via a Savings Component withdrawal. This gets processed from the funds in your savings component as per the two-pot retirement system. This is limited to one withdrawal per tax year and is subject to a processing fee and taxed at your marginal tax rate.
The Sygnia Preservation Funds offer you the same significant tax benefits available through an occupational pension or provident fund:
At retirement from the Sygnia Preservation Funds, the portion of the accumulated benefit transferred to a post-retirement pension product, such as a living annuity, is free of tax. The portion taken as cash may be taxed.
All taxable growth, including interest income, net rental income, dividend income and capital gains, is free of tax.
Sygnia unit trust and unitised life funds
No administration fees apply on Sygnia unit trusts and unitised life funds.
All externally managed unit trust funds
Administration fees are charged as follows when you are invested in external-manager unit trusts:
ETFs and ETNs
Administration fees are charged as follows when you invest in ETFs and ETNs on the Sygnia Alchemy Platform.
| Sygnia Investments | Annual Administration Fee (excl VAT) | ||
|---|---|---|---|
| Value of all accounts | Sygnia Unit Trusts and Unitised Life Funds | Sygnia ETFs | External Unit Trusts, ETFs and ETNs |
| First R2 000 000 | 0% | 0.20% | 0.40%* |
| Over R2 000 000 | 0% | 0.10% | 0.20%** |
* 0.40% (excl VAT) is levied on the proportionate value of the external-manager funds below R2 million.
** 0.20% (excl VAT) is levied on the proportionate value of the external-manager funds above R2 million.
Please note: While Sygnia does not charge any administration fees in respect of its own funds, we consider all your investments when assessing the R2 million threshold, including your investments in Sygnia funds. For fees relating to the underlying investment managers, please refer to the Sygnia Alchemy Funds document available on request, or online at www.sygnia.co.za.
Investment management fees
These vary widely across the Sygnia Alchemy fund range. For a detailed breakdown of fund-specific fees, please refer to Sygnia Alchemy Funds on our website.
Financial advisor fees
These are negotiable with your financial advisor within the following parameters:
Initial fee: Maximum of 3% (excl. VAT) deducted prior to investing
Annual fee: Maximum of 1% per annum (excl. VAT).
If an initial fee in excess of 1.50% is deducted, the annual fee is limited to 0.50% per annum.
Copy of South African green barcoded ID/ South African Smart ID Card, or valid passport (if a foreign national).
Proof of residential address less than 3 months old.
Proof of bank details not older than 3 months.
Proof of deposit/transfer into the relevant Sygnia bank account.
Proof of deposit/transfer in to the relevant Sygnia bank account.
If a unit transfer is required, please provide a recent statement of your current investment.
Minimum contribution:
Initial lump sum of R50 000.