Assupol Preservation Funds
If you resign, are dismissed or retrenched, you must decide what to do with your retirement savings. Don’t be tempted to use what you have built up. Preserve it to help provide you with a safe, comfortable and stress-free retirement.
Policy benefits
Uninterrupted growth
Your retirement savings can stay invested in the market with uninterrupted growth.
Flexible investing
You choose the investment fund that suits your individual risk profile.
Tax-free transfers
Your retirement savings won’t be taxed when you transfer them to the preservation fund, but will be taxed when you retire.
Once off withdrawal
You can draw from the preservation fund once before retirement if you really need cash, but this money will be taxed.
Early access to funds
Your money will be available to you from your 55th birthday, or earlier if you become disabled.
Savings protection
Your retirement savings are protected against creditors.
We offer two types of preservation funds
Pension Fund | Provident Fund | |
When can I access my funds? | On retirement | On resignation or retirement |
How does the payout work? | When you retire, you can access up to one third of the benefit in cash (which is taxable) and the remaining two thirds must be used to purchase an income annuity (which is also taxable). If your total retirement is less than R247500, you can take the full benefit as a cash lump sum, subject to tax. | Prior to 1 March 2021,
From 1 March 2021,
If you leave a company before you retire (resign or retrenched), you have the following options:
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More Retirement options
Save for your retirement with monthly contributions, or single premium contributions.
Guaranteed income for life and beyond.