Retiring from individual accounts within the Allan Gray retirement funds

posted Apr 3, 2012, 2:19 AM by Lance Robert
Members are now able to retire from their individual investment accounts within the following retirement funds:
  • Allan Gray Retirement Annuity Fund
  • Allan Gray Pension Preservation Fund
  • Allan Gray Provident Preservation Fund
Previously, members who had multiple investment accounts within the same retirement fund were required to retire from all of their investment accounts at the same time.

Requirements to retire from an individual investment account:

  • Members can retire from one or more of their investment accounts at any stage after age 55.
  • Members cannot partially retire from an individual investment account.
  • The minimum retirement amount is R150 000. Members retiring across all their investment accounts in the same retirement fund do not need to meet this minimum.
  • The remaining balance after retirement needs to be R150 000 across the remaining investment accounts.

Members cannot defer their one-third cash lump sum benefit

Members retiring from the Allan Gray Retirement Annuity and Pension Preservation funds can take a maximum cash lump sum benefit of one-third of their investment value in the investment accounts that they are retiring from. If they would like to access this benefit, they will need to do so at the point of retiring from their investment accounts and cannot defer it until their next retirement from the fund.

When dealing with investments, including retirement funds, we recommend that you speak to a financial planner.
If you have any questions please contact us.