| RETIREMENT FUND MEMBERSHIP MANUAL
OPTIONS AVAILABLE TO YOU WHEN YOU RETIRE Legal disclaimer: Investing your retirement capital is a complex area and every attempt has been made to simplify this guide for ease of understanding. This may result in some areas being covered in relatively little detail. Readers of this guide should note that: • The information contained in this guide does not constitute advice by the Board of Trustees, its advisors or staff; and • Members may need to seek expert financial advice before making a decision
INTRODUCTION Your retirement is an important milestone in your life. The money you have accumulated in your fund over the duration of your membership is potentially the largest savings you have to date, and the purpose of this guide is to provide you with all the information you require to understand how these savings can provide you with an income in retirement. Your options on retirement from the Fund are as follows: • Purchase a LIFE annuity from an insurer • Take a LIVING annuity from the Fund • Take a LIVING annuity from an insurer / asset manager • Take a Hybrid pension (both Lif and Living Annuity combination) • Take cash- that which is permissible • Combination of any of the above The purpose of this guide is to outline the options which are available to you and guide you through some of the considerations which you will need to bear in mind. In addition to this Retirement Options Detailed Guide, you are also provided with the following: • Retirement Options Roadmap which provides a graphic illustration of the process • With profits annuity guide (provides more detailed information around the quotations which CPUT Retirement • Fund has obtained for you from one insurer)
CONSIDERING THE OPTIONS AVAILABLE ON RETIREMENT You will receive a statement that reflects the value of your member share account (i.e. your retirement savings). On receiving this information, the two most important questions you probably have are: • How should I invest my retirement money? • What amount of income can I expect to get monthly from this investment?
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