PLAN FOR YOUR FUTURE

We are living for longer, which means that your retirement years could easily make up a third of your life.

For you, retirement may be a long way off, or maybe it’s just around the corner. Have you worked out how much money you will have when you retire? Will this be enough to maintain your standard of living and allow you to enjoy the things you have been looking forward to?

Fortunately, by making regular contributions to the Woolworths Group Retirement Fund, you have already laid the foundation for your retirement planning. Your retirement fund is an appropriate vehicle for building up wealth over your working lifetime to provide you and your family with an income once you have retired.

Remember, retirement age is now 63.

SAVE TODAY FOR FINANCIAL INDEPENDENCE TOMORROW

THE TWO-POT RETIREMENT SYSTEM

FROM 1 SEPTEMBER 2024
The two-pot system will allow you to make partial withdrawals from your retirement savings before you retire, while preserving a portion of your retirement savings that can only be accessed when you retire. The two-pot system creates a ‘savings pot’ and a ‘retirement pot’. Only the savings pot and the retirement pot can receive your retirement contributions from the date that the two-pot system is implemented. There is also a ‘vested pot’ which will house the retirement benefits you accumulated before the implementation date. Investment growth will still be credited to your vested pot.
LEARN MORE

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You must register on AF Connect

Register on AF Connect to make withdrawals, track your claims, access your benefit statement and much more... Click here to login or to register on AF Connect.
  • This will allow you to apply to withdraw money from your savings pot after 1 September 2024.
  • Check your investment balances.
  • Update your personal details.
  • Update your beneficiaries.
Go to AF Connect

The power of compound interest

The most effective route to wealth creation is to set aside a portion of your money and invest it, so that it earns compound interest over many years. Compound interest is when you earn interest on your interest.

Over time, compound interest will seriously boost your saving efforts. The result over time has a snowball effect, where your money grows quicker and quicker the longer it is invested.

  • Year 1 – your money earns interest.
  • Year 2 – you earn interest on your original money
    PLUS you earn interest on the interest earned in year 1.
  • Year 3 – you earn interest on your original money
    PLUS you earn interest on the interest earned in year 1
    PLUS you earn interest on the interest earned in year 2.

THINK BIG. START SMALL. ACT NOW

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