Take out a retirement annuity (RA) in addition to your pension fund and get tax back.

A retirement annuity is a tax-effective investment vehicle ideal for those who want to supplement their pension.

Open a tax-free savings account and you will not be taxed a single cent on any of the returns on this investment.

Tax-free savings accounts are part of the government’s drive to encourage people to invest and save more for their future. You can save up to R500 000 tax-free and it will grow with compound interest.

Save in a unit trust. This medium-term savings vehicle is ideal for putting money aside for your children's education.

A unit trust is an investment portfolio that is managed as a collective investment scheme and is divided into equal parts or ‘units’. Unit trusts buy you shares in a fairly safe portfolio along with those of all the other participants in the trust.

For short-term savings, save your money in a money market or fixed deposit account. This is ideal for lump sums.

A money market account is an interest-bearing account at a bank. Most money market accounts pay a higher interest rate than a regular savings account, but also come with restrictions that make them less flexible.

Make Additional Voluntary Contributions
(AVCs) to your pension fund.

You can make additional voluntary contributions (AVCs) to the Fund each month that will boost your Fund Credit in the Fund. This can be done in a tax-efficient way. Your AVCs will be invested in the same portfolio as your Fund Credit. The AVC form is available on Imbizo or on our website.

For TCOE you can increase your contribution to the pension fund via the Modelling Tool which opened in October 2018.