The investment minimums are determined by the trustees of the relevant retirement fund.

There is no minimum investment term, but investors must retire from the fund at normal retirement age of 55.

Investors have total freedom to change their underlying investments. There is no charge to make a change, but depending on where to the investor moves their money, initial investment charges may apply.

Access to the widest choice of investments: The underlying investments from which a member can choose, are determined by the relevant retirement fund, but Glacier has a range of about 1000 underlying investment funds available, as well as the option to invest in individual shares, exchange traded funds (ETFs) and other instruments via our stockbroking service.

• Individual member investment choice
• Seamless investment transition into retirement or preservation fund if a Glacier retirement income solution is chosen

• Investors make a lump sum or regular contributions until they retire
• We invest the money in the underlying investments that the investor chooses in collaboration with their financial planner
• The investor’s money can grow over time based on the performance of their underlying investments

At retirement, investors can transfer their retirement savings to an income-generating product like our Investment-Linked Living Annuity or our Investment-Linked Lifetime Income Plan (transferring to a Glacier product is free of charge and does not interrupt their investment term).

If an employee resigns from your service, they can transfer their savings to another retirement savings product. Transferring to a Glacier product is truly seamless, as your investment is not realised.

• The investor’s dependants may benefit from the money after the investor passes away
• Trustees will take into account their wishes and all their dependants’ needs when they die to decide who receives this benefit
• Benefits can be paid as a lump sum, or it can be transferred to a living annuity to provide a regular income
• It is also possible to have one-third of the benefit paid as a lump sum and the rest transferred to a living annuity

If the investor is permanently disabled before they retire, the benefit is paid out to them in the same way as if they had reached retirement (aged 55).

The investor may withdraw the money in cash, subject to the retirement fund rules, tax and other legislation at the time.

• Tax benefits
• At retirement there is no tax on the amount that is transferred to the Glacier Investment-Linked Living Annuity (or any other approved product that provides an income during retirement)
• There is no tax on any interest or dividends
• What is taxable
• There is tax on any portion of the retirement savings that the investor withdraws in cash when they retire
• There is tax on any withdrawal benefit

Fees vary per product and the underlying investment. Your employees should speak to their financial planner to make sure they understand which fees they pay and why.