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  • Application To Open An Account - Liberty Pensions

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Ms/Mrs Dr. Prof. Prof. Dr. Name First name Street, N Postal code, place, country Nationality Phone Date of birth Insurance number (AVS) Intermediary/ Consultant Fees for account solutions Civil status, date of marriage E-mail address: (for quarterly Newsletter, etc.) Name Contact person Street, N Postal code, place No fees The remuneration for the sales activity of the intermediary or consu.

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What is the difference between a 401(k) and a pension? A 401(k) is an employer-sponsored retirement account that allows an employee to divert a percentage of his or her salary—either pre- or post-tax—to the account. A traditional pension plan offers retirees a fixed monthly benefit for the rest of their lives.

Retirement Annuities (RAs) A key difference is that RAs cannot be accessed before retirement age (minimum 55), whereas pension, provident and preservation funds allow for early withdrawals, subject to tax implications. However, this is generally not advised as it diminishes your retirement savings.

Annuities offer benefits like a steady income in retirement and tax-deferred growth with no annual contribution limits. However, they can come with high annual fees, early withdrawal penalties and may not provide inheritance for heirs.

Once the final decision is accepted by all affected beneficiaries, Liberty Corporate will finalise payment within 15 working days. Unapproved group life policies are owned by the employer and not the fund. These benefits do not form part of the retirement fund and are therefore not subject to Section 37C.

For some people—especially those who are uncomfortable with managing an investment portfolio—a retirement annuity can be a secure way to make sure they don't outlive their assets. Others may be better off maximizing their 401(k) plan or individual retirement account (IRA) before putting money into an annuity.

Contact your fund financial adviser if you are unsure what to do when leaving your employer or for further information regarding your preservation options. Alternatively, you can contact Liberty's benefit counsellors on benefitcounselling@liberty.co.za or 011 558 2999.

At retirement a member will be able to take 100% of the Vested benefits and up to one third of the Non-Vested benefits as a cash lump sum retirement benefit, subject to tax. The member will however be required to purchase an annuity with at least two thirds of the Non-Vested benefits.

Retirement Annuities (RAs) A key difference is that RAs cannot be accessed before retirement age (minimum 55), whereas pension, provident and preservation funds allow for early withdrawals, subject to tax implications. However, this is generally not advised as it diminishes your retirement savings.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232