The Satrix Retirement Plan (RA) gives you access to the underlying EasyEquities RA Fund, which is registered with the Financial Sector Conduct Authority and the registration number allocated to the Fund by the FSCA is 12/8/38189.
The Fund is also registered with the South African Revenue Services to ensure that you may claim your contributions to the Fund at the end of each tax year.
The legislature has afforded pension benefits various protective safeguards in the Pension Fund’s Act.
1. Pension benefits cannot be reduced, transferred, ceded, pledged, hypothecated, or considered to determine the debtor’s financial position for an amount exceeding R3,000. Essentially this means that your retirement annuity assets are protected from any and all creditors in excess of R3,000.
2. Pension assets are deemed not to form part of the insolvent estate.
3. Pension Benefits are deemed not to form part of the assets of the deceased estate.
4. Regulation 28 places restrictions on the manner in which the RA fund’s assets may be invested which avoids abuse or misuse of the pension fund by persons dealing therewith.