Main features

If you select the Pension with Capital Repayment as your pension plan, you will receive a guaranteed pension for the rest of your life (or your spouse's life if you select a joint plan).

At the death of the last survivor the income ceases but an amount equal to the original capital is paid to your beneficiaries in 60 monthly installments. 

The pension payable while you and your spouse or partner are alive is called the primary pension, while the installments payable to you beneficiary are the secondary pension.

Income guarantees

The income level is guaranteed and not influenced by a decrease in interest rates or stock market fluctuations.

The pension payable is determined by an annuity rate applicable on the date your retirement fund matures.

Increasing income options

You can select to increase the income every year with a percentage up to 10%.

Taxation

Income Tax

The income you and your spouse receive from this plan, is fully taxed at the tax rate applicable to the income the pension provides.

Tax on amounts payable to your beneficiaries after your death

Income tax

Income tax will be payable on the amounts your beneficiaries receive after your or your spouses death.

Estate duty

No estate duty is payable unless a lump sum commutation takes place within six months of death.

Investment tips

It is important to consider your personal position before you make a decision concerning your investments, as your financial needs, tax obligations, income and assets will change after retirement.

Contact us

Would you like to know more?  Speak to your Sanlam adviser or your broker, or contact us at 0860 000 121.  We will put you in touch with someone who can prepare a total retirement plan for you.