When you retire from the GEPF, you are allowed to take a gratuity in cash. With the rest of the money, you buy a guaranteed annuity that pays you an income for life. On the other hand, you could then invest the lump sum outside the GEPF as you wish, with one option being to buy a living annuity. Being aware of the key issues that could affect your plan could make all the difference to your financial well-being at retirement. Making financial decisions about your retirement needs is important but you do not have to do it alone. We are here to help however we can.
Find out if you are on track
Our financial advisers will discuss your retirement goals with you and calculate how much money you will need to achieve them. We will also explain your Benefit Statement in your home language, so you understand the consequence of your choices. Our main objective is to give you a better understanding of your retirement fund.
Your tax implications
All of the advice we give will take into account your individual tax situation. We believe that money saved in tax is money that can be used towards achieving your goals. Our financial advisers will ensure you are making the most of the available tax benefits and allowances – so you do not pay more tax than is necessary.
Helping you with the paperwork
Time is the major problem when it comes to receiving your benefit and non-payment of claims on time. As a result, many members find themselves in debt and have to cancel funeral and life policies because of a lack of money. We have assisted hundreds of government employees with their paperwork, we now have a framework of all the documents required to avoid delays in payment of retirement benefits.
Helping with your budget
We assist you to have an understanding of how much money to budget once your expenses are paid. It will let you know how much money can be put toward the goals defined in your financial plan. You may still be paying your mortgage bond, children’s education, or planning to renovate your house and buy a new car. It is important that we use your money well so that you do not have any debt after retirement.
Helping with your estate plan
You have worked hard to build your wealth so it is natural to want control over how it is passed on. With families growing and relationships changing, your priority could be to make sure the money stays within your family. There are several ways to keep some control over how your money is passed on – we can talk you through the options and help you make a decision.
Help you open an investment account
Investments play a major part in the financial plans of many of our clients. After we have completed your budget, you may have some money left that you can save for emergencies or long-term growth. We advise you on all your investment decisions to ensure your money continues to grow. Your money is available immediately if you need to withdraw from your investment.
Book an initial consultation
No two clients are the same – our service is personal to you. Whatever you want from retirement, one thing is certain – to give you the retirement you want and deserve, you need to plan. Our financial advisers can give you the answers and show you whether you are on track to retire – then create a plan to help you get there.
Head of Investments
Sphelele joined Inkunzi Wealth Group in 2013 and has 9 years’ experience in the investment management industry, having had previously worked for Allan Gray and Regarding Capital Management. Apart from being an active member of our investment team, Sphelele is also responsible for the management of our business. He holds a BCom degree in Economics from the University of Pretoria.