| RETIREMENT FUND MEMBERSHIP MANUAL
BENEFITS AND OPTIONS PROVIDED BY THE FUND ON WITHDRAWAL Withdrawal options refer to the options you are entitled to in the event of resignation, dismissal or retrenchment prior to retirement. In this booklet, we summarise the options available to you. These options will also be explained to you in a meeting set up with the principal officer and/or your human resources officer. Please contact Ms Rushnah Davids on: 021 460 3404 or e-mail: DavidsRu@cput.ac.za to make an appointment or discuss these options further. The benefits outlined in this booklet do not constitute financial advice and instead explains the various options available to you with your retirement savings (referred to as your Member Share Account).
Disclaimer The information in this guide does not constitute advice by either the Board of Trustees or its professional advisors. Members are encouraged to seek expert advice from a personal financial advisor before taking decisions regarding their benefits from the Fund. • The Fund will try to ensure that the material in this guide is up to date and accurate, but this cannot be guaranteed at all times. •
Dear member, We are sorry to see you leaving CPUT and wish you the very best on your journey. Before you leave however, there is one more decision which you need to make. What are you going to do with the money invested in the CPUT Retirement Fund? Your options are as follows: • Defer your full benefits in the Fund – i.e. stay in the Fund until you decide to take cash, transfer your benefits out of or retire from the Fund • Transfer your full benefits to another Fund • Take that part of the benefit which is permissible in cash (this will be subject to tax) • Take a combination of transfer and cash These are detailed further below. Please note that if you do NOT make a decision, you will automatically become a deferred member in the Fund (as required by legislation).
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