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Save for your retirement

Your financial wellness journey begins when you start planning for what’s important.

Retirement is one of those events that may seem so far away it becomes easy to delay saving for it. It’s best to start saving early, but it’s never too late to start.

A retirement annuity is an investment in which you make regular contributions to build up your retirement savings. You can use it to boost your existing pension or provident fund savings if you are currently employed. You must use at least two-thirds of the amount you accumulate at the end of the savings term to buy a regular income during your retirement.

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A little thought and some proper planning now can bring welcome peace of mind for your family in future. Let one of our financial advisers help you put a plan in place to take care of your life goal.

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What solution can you choose to make your life goal real?

Our retirement savings plans are specially designed to help you meet your long-term retirement savings goal, making it possible for you to save towards a comfortable retirement.

  • FutureBuilder Pension Plan
    This plan is a retirement annuity for people who want a secure retirement plan.
  • DreamBuilder Pension Plan
    This pension plan is designed for employee groups that are members of group schemes or unions.
  • FutureChoice Retirement Annuity
    This is a retirement annuity that offers four risk-profiled investment funds (including the Smooth Bonus Fund) to suit your personal retirement needs.

 

The advantages of a retirement annuity

  • Premiums are tax-deductible within certain limits.
  • Your retirement annuity is your personal plan and not related to your employer.
  • Your money is protected from creditors who cannot access your savings to cover unpaid debt.
  • It offers a disciplined approach to saving: you can only start using your savings when you reach the age of 55 (unless you are unable to perform your job due to disability or illness).
  • You may transfer between another retirement annuity fund and the Metropolitan Retirement Annuity Fund.
  • You can pay lump sum cash amounts into a retirement annuity.
  • At retirement you can take up to one third of your savings in cash.

What are the benefits of these solutions?

What are the benefits of these solutions?

Monthly premium. The amount of money you can save towards your life goal every month

Automatic Inflation. Management benefit. Keep up with rising costs

Smooth Bonus Fund

Five risk-profiled funds to choose from

Fund switching.

Premium bridging

FUTUREBUILDER PENSION PLAN

From R250 a month

Yes

Yes

Yes

DREAMBUILDER PENSION PLAN

From R250 a month

Yes

Yes

Yes

Yes

Yes

FUTURECHOICE RETIREMENT ANNUITY

From R250 a month

Yes

Yes

Yes

Yes

You can choose to add these benefits to your plan

Premium Waiver on Disability*

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Yes

Title

Yes

Title

Yes

*A six-month waiting period applies to this benefit for the FutureBuilder and DreamBuilder plans.

How do the benefits work?

  • Automatic Inflation Management (AIM) benefit
    This included benefit can help protect your savings against an increase in the price of goods and services (inflation). Each year your premium will automatically increase, unless you inform us that you want to skip the increase for that specific year. You can choose a yearly fixed increase of between 5% and 10% that will apply to your premium.
  • Smooth Bonus Fund
    The Smooth Bonus Fund offers stable long-term returns, even if there are sudden changes in the investment market. You benefit from steady investment growth that will help you to meet your long-term life goal.
  • Five risk-profiled investment funds
    People like choice. The FutureChoice Endowment offers you a selection of five risk-profiled funds (including Smooth Bonus) ranging from conservative to aggressive to suit your individual savings needs. Your financial adviser will conduct a risk profile and recommend a suitable fund choice based on your age, risk appetite and savings term.
  • Fund switching
    This feature allows you to change funds when your circumstances or risk appetite changes. You can make unlimited switches between funds.
  • Premium bridging
    You may skip premiums for a limited time if you become unemployed, go on maternity leave, study full-time or suffer a major illness.
  • Premium Waiver on Disability
    If you choose this benefit, Metropolitan will pay your premiums on your behalf if you become disabled and are unable to work as a result of illness, accident or disease:
  • until the age of 65, or
  • until the end of the savings term (whichever event happens first).