Retirement annuities and plans
Enjoy a worry-free retirement with a retirement savings plan. Saving for retirement requires disciplined long-term saving coupled with a sound investment strategy.
Momentum Savings can give you guidance on how much you need to save and for how long so you can meet your retirement goals and enjoy a stress-free retirement.
- Start investing from as little as R500 per month.
- Enjoy a payment breather when there's an unexpected bump in the road.
- Choose any retirement date from age 55.
Keep your retirement financial journey on track. Speak to a financial adviser to find out how.
What is a retirement annuity?
The Investo Retirement Annuity from Momentum Savings helps you grow your retirement savings and receive a regular income when you retire - like a salary, after you stop working. It’s a long-term savings plan with tax benefits: you get money back at your tax rate for every rand you invest. For example, if you pay 30% tax, you get R300 back for every R1 000 invested. We also reward your commitment with a loyalty bonus.
And thanks to compound interest (earning interest on your savings and interest earned), your money can grow faster the longer you stay invested. Think of it like a snowball getting bigger as it rolls.
Two-pot retirement system
From 1 September 2024, the way you save for retirement changes. Preserving your long-term savings is still the most important thing to do.
But the new two-pot retirement system allows you to tap into some of your retirement savings during your working years. Find out all you need to know about two-pot and enjoy new ways to save for your goals and retirement with Momentum Savings.
Momemtum Savings right for me?
Momentum Savings retirement plan options
Momentum Savings offers long-term savings products, including a retirement annuity to help you meet your goals. Start your retirement savings by investing from as little as R500 a month and enjoy a range of investment benefits from retirement annuities.
Investo Retirement Annuity
Grow your retirement money in a disciplined way while benefiting from tax incentives.
Monthly contribution
From only R500 per month.Investment period
Choose any retirement date from age 55.Features
Deduct the money you invest from tax.Enjoy tax-free growth.
Choose from many investment funds to suit your needs and goals
Investo Linked Investment
Grow your retirement savings for a specific term.
Monthly contribution
From only R500 per month.Investment period
You can withdraw any time you want to but, for the best results, choose an initial savings term of 5 years or longer to suit your long-term goal.Features
Choose from many investment funds to suit your needs and goals.Get rewarded with a loyalty bonus for staying invested.
Investo Endowment
Grow your retirement savings for a specific term while getting estate planning and tax benefits.
Monthly contribution
From only R500 per month.Investment period
Stay invested for at least five years, but for retirement, it’s best to stay invested for the long term.Features
Get rewarded with a loyalty bonus for staying invested.Tax-efficient growth if you are in a higher income tax bracket.
Choose from many investment funds to suit your needs and goals.
Prepare for medical expenses in retirement
Many of us don't realise that health could become one of our biggest challenges as we start winding down from work. That's why it's essential to factor in rising healthcare costs, and medical aid increases as part of our retirement planning. Medical inflation often outpaces regular inflation, reducing the impact of our savings over time.
Plan ahead for these costs to enjoy a worry-free retirement. By choosing an Investo Retirement Annuity from Momentum Savings, you'll grow your savings and have the added support to manage unexpected medical expenses in the future.
The benefits of saving in the Investo Retirement Annuity
Loyalty bonus
We reward you with a bonus if you stay invested for 5 years. It pays back most of your administration fees.
Guarantees
We can guarantee that your capital will be safe if you choose this benefit, or that your money grows by a certain percentage.
Investment booster
With our enhanced allocation benefit, if you invest above a certain amount, we boost your investment by adding money from our pocket.
Protection
With our contribution replacer benefit, you can insure yourself so that we invest on your behalf if you cannot make contributions due to disability or death.
Retirement access
With our enhancer benefit, we free up your retirement money. The benefit also makes your income more tax efficient.
Retirement Booster
Pays out an additional tax-free amount when you retire if your retirement annuity is linked to a qualifying Momentum Life Insurance product.