Get Old Mutual Protektor Preservation Fund

The primary difference lies in their purpose and accessibility. A pension fund, often tied to an employer, provides retirement income, while the Old Mutual Protektor Preservation Fund allows you to preserve your retirement savings after leaving a job. Also, preservation funds usually offer more investment options.

One disadvantage of a preservation fund, like the Old Mutual Protektor Preservation Fund, is that it typically restricts your ability to withdraw funds until you reach retirement age. Additionally, fees may apply, which can impact your overall returns. It's essential to consider your financial goals and liquidity needs before choosing this type of fund.

The Old Mutual Protektor Fund is a type of investment vehicle designed to help individuals preserve their retirement savings. It allows you to keep your funds invested even after leaving a job. This fund aims to provide growth over the long term, while also offering flexibility in managing your investments.

The Protektor Preservation Pension/Provident Fund (Protektor) is a cost-effective, easy to use preservation fund designed to help employees, when leaving a place of employment, preserve their retirement savings to ensure that their retirement planning remains on track.

Accessing your preservation fund: You can make one partial or full withdrawal from a preservation fund, prior to age 55. After that, the balance can only be accessed at retirement, from age 55 onward. Your withdrawal is taxed per the withdrawal lump sum tax table below.

Tax-efficiency: Being an approved retirement fund, preservation funds are highly tax-efficient in that no local dividend tax or tax on interest is payable, and switches between unit trusts within your fund will not trigger a capital gains event.

Give all these to your payroll administrator within 60 days of leaving your employer, or call the Old Mutual SuperFund service centre at 0860 20 30 40. 1 Subject to legislation and the rules of the receiving fund, at the time of transfer. Your final option is to take some, or all, of your retirement savings in cash.

Can a member withdraw money from the preservation fund? The member may withdraw either a portion of or the entire benefit from the preservation fund at any time (except as per point 6 above). However, only one withdrawal or partial withdrawal may be taken from the preservation fund prior to retirement.

Old Mutual SuperFund members cannot partly withdraw cash and invest the rest of their retirement savings into Preserver. There are also no part withdrawals allowed once invested in Preserver. A member must either invest all their retirement savings or withdraw all.