The flexibility of a living annuity with the security of a lifetime income – now in a single, perfect package. A groundbreaking annuity that gives you access to your money when you need it but that can also provide you with an income for life.
The Sygnia ForLife Living Annuity currently has a 40% offshore allocation limit. Please contact our Client Service team should you require more information about this product.
“I want my children to see me as their dad and not just as another financial burden to be dreaded. This makes it possible.”
Joe, 70Advantages
Invest your savings after retirement.
Draw on those savings in a regular and tax-efficient manner.
Flexibility of a living annuity with the security of lifetime income.
Limitations
Additional contributions are allowed only as benefits from another approved retirement fund or as a transfer from another living annuity.
You may not cede your investment in the Sygnia ForLife Living Annuity, nor use it as security for any debts or commitments.
Once you invest your capital in a living annuity, all taxable growth – including interest income, net rental income, dividend income and capital gains – is tax free.
All annuity payments are subject to tax (PAYE) in accordance with prevailing income tax legislation.
Sygnia unit trust and unitised life funds
No administration fees apply on the Sygnia Lifetime Income Portfolio, Sygnia unit trusts or unitised life funds.
All externally managed unit trust funds
Administration fees are charged as follows when you are invested in external-manager unit trusts.
ETFs and ETNs
Administration fees are charged as follows when you invest in ETFs and ETNs on the Sygnia Alchemy Platform.
| Sygnia investments | Annual administration fee (excl. VAT) | ||
|---|---|---|---|
| Value of all accounts | Sygnia Unit Trusts | Sygnia ETFs | External Unit Trusts and ETFs |
| First R2 000 000 | 0.35% | 0.35% | 0.40%* |
| Between R2 000 000 - R10 000 000 | 0.15% | 0.15% | 0.20%** |
| Over R10 000 000 | 0.00% | 0.00% | 0.20%*** |
* 0.40% (excl VAT) is levied on the proportionate value of the external-manager funds below R2 million.
** 0.20% (excl VAT) is levied on the proportionate value of the external-manager funds above R2 million.
*** 0.20% (excl VAT) is levied on the proportionate value of the external-manager funds above R10 million.
A separate safe custody fee of 0.03% (ex. VAT) per annum applicable to ETFs will be charged.
Please note: We consider all your investments when assessing the R2 million and R10 million threshold, including your investments in Sygnia funds. For fees relating to the underlying investment managers, please refer to the Sygnia Alchemy Funds document available on request, or online at www.sygnia.co.za.
Investment management fees
These vary widely across the Sygnia Alchemy fund range. For a detailed breakdown of fund-specific fees, please refer to Sygnia Alchemy Funds on our website.
Lifetime Income Portfolio fee
The fee varies depending on the life company underwriting the annuity. Please request fees directly from the Sygnia Client Services Centre.
Financial advisor fees
These are negotiable with your financial advisor within the following parameters:
Initial fee: Maximum of 3% (excl. VAT) deducted prior to investing
Annual fee: Maximum of 1% per annum (excl. VAT).
If an initial fee in excess of 1.50% is deducted, the annual fee is limited to 0.50% per annum.
Copy of South African green barcoded ID/ South African Smart ID Card, or valid passport (if a foreign national)
Proof of bank details (not older than 3 months)
Proof of deposit/transfer into the relevant Sygnia bank account
If a unit transfer is required, please provide a recent statement of your current investment
Spouse’s South African green barcoded ID/ South African Smart ID Card, or valid passport (if applicable)
Marriage certificate (if applicable)
Signed Sygnia Lifetime Income Portfolio Quote (if applicable)
Minimum contributions:
Initial lump sum of R200 000
Minimum allocation of R50 000 to the Sygnia Lifetime Income Portfolio.