Get Meb001 Fundsatwork Umbrella Funds Withdrawal Form Pdf

Full withdrawals before retirement You can make a full withdrawal from the Umbrella Retirement Fund or the Preservation Fund, if you transfer before retirement age. These will be subject to the withdrawal tax table.

Clear copy of identity document (identity document, passport or both sides of card driver's license) for the policyholder/investment owner. 3. Proof of banking details – cancelled cheque or complete bank statement, not older than three months.

Completed form together with supporting documents to be faxed to 012 675 3970 or emailed to clientcontactcentre@momentum.co.za. Note We recommend that you contact your financial adviser before you make any changes to your product option, benefits and beneficiaries.

It is not possible to cash in a retirement annuity before age 55, other than on the basis of (proven) disability and formal emigration. Even cashing in at age 55, you will be required to use at least two-thirds to purchase an annuity that will pay you a pension for life.

Normal retirement When the member reaches the age of 55, he may access his retirement benefit. A member of the Momentum Retirement Annuity Fund and the Momentum Pension Preservation Fund may only take one third of his retirement benefit in a lump sum; the rest of the benefit must be used to buy an annuity (a pension).

Retirement Annuity Option Grow your retirement money while benefiting from tax incentives. From R50 000 lump sum; from R1 000 per month. Access your benefits from age 55. Deduct the money you invest from tax.

You are allowed a full or partial withdrawal from your preservation fund before retirement. The earliest retirement date is usually 55, although this is subject to the fund rules. These issues are important because they determine if you can a) make another withdrawal and b) the tax thereon.