An Authorised Financial Services Provider (FSP 12097)
Unit Trusts:
A unit trust or collective investment scheme (C.I.S) as it is also known, is a
form of collective investment constituted under a trust deed. As a unit trust
investor, your money is pooled with that of other investors who have similar
investment goals. Unit trusts enable investors to invest in a wide range of
shares, bonds and assets using relatively small amounts of money.
Endowments:
An Endowment is a five year investment. It is referred to as a short term
investment, where access to a wide selection of funds is available. The
premiums on an endowment are not tax deductible and therefore the proceeds on
maturity are also exempt from any forms of tax. A client is entitled to make
one loan and one withdrawal within the five year period.
Second Hand Endowments:
Policyholders may make regular withdrawals and will only be subject to paying
Capital Gains Tax (C.G.T) each time a withdrawal is made. Second Hand
Endowments offer the exact same tax benefits within the wrapper as that of a
regular endowment.
Retirement Annuity:
This is also referred to as an (RA) or personal pension which a client must
take out to a minimum of age 55. An RA is taken out to provide a client with a
monthly pension when he/she wishes to retire. The premiums contributed to an RA
are fully tax deductible within certain parametres, and therefore the monthly
annuities received are taxable.
Voluntary Purchase Annuities:
This is where an amount of money is voluntarily invested in order to receive a
monthly income. A policyholder will only pay tax on the interest derived.
Compulsory Purchase Annuity:
This is where the proceeds from your pension fund or Retirement Annuity are
used to by you an annuity, which can be taken in many different forms.
The payment to unit trusts, endowments and retirement annuities may be made by
way of lump sum, annual or monthly contributions. By paying monthly, an
investor has the ability to take advantage of the benefits of
Rand-cost-averaging in a rising or falling market.
Corporate Ivestments Offered:
Pension and Provident Funds, as well as Deferred compensation.