More Information about moving your Satrix Retirement Plan to SatrixNOW

Transfer process: 

There is no cost for the transfer.

Transfers will be conducted under a nil tax directive so there will be no tax impact for the transfer. 

The transfer includes a change in the fund class, from B2 class currently, moving to A1 class on SatrixNOW. This means that we are unable to move your units. Glacier will sell your units and transfer the cash to SatrixNOW. This means that you will be out of the market for a period of time. We will endeavor to minimize the time that you are in a cash position, but this will be between 7 days and 30 days. Once transferred, your cash will be invested in the funds with the percentage split as per your holdings on Glacier. 

Cost Comparison:

You benefit from a reduced platform fee on SatrixNOW. The A1 class has a higher TER than the current B2 class, however, the total fee is lower on SatrixNOW than the current Satrix Retirement Plan.  


Glacier

SatrixNOW


TER

Platform Fee

Total 

TER

Platform Fee

Total 

Balanced Fund

0.38

0.5

0.88

0.48

0.3

0.78

Low Equity Balanced Fund

0.38

0.5

0.88

0.45

0.3

0.75

Transaction Costs: Trade-related costs in respect of unit trust holdings are carried by the relevant fund and included in the Total Investment Charge (TIC) for that instrument.

Debit Orders: 

Once you have registered your SatrixNOW Retirement Plan account, it is easy to set up a recurring investment via debit order.

  • Login to SatrixNOW and click on your Retirement Annuity account
  • Click “Invest Now” and select the fund you wish to purchase
  • Choose your Investment Amount and select “Recurring” 
  • You can choose your debit order frequency, debit order date and annual increase percentage. 
  • Please note that you will need a verified bank account in order to set up a debit order – see here for more details. Alternately if a family member or friend wants to set up a debit order into your SatrixNOW account, see details here

Lump sum investments:

Making a lump sum investment on SatrixNOW is simple:

  • Login to SatrixNOW and click on your Retirement Annuity account
  • In the top left Menu drop down, select “Deposits” under “My Funds” 
  • Select your funding option (check the associated costs) and deposit your lump sum. Make sure that you are transacting within the correct Retirement account and to use the correct Reference number.  
  • Once the funds have cleared and show in your “Funds to invest”, click “Invest Now” and select the fund you wish to purchase.
  • Choose your Investment Amount and select “Once Off”, and confirm your investment. 

Statements and Tax Certificates:

Login to SatrixNOW and select “Statements and Certificates” from the home page. You can download the relevant documents in PDF format from here.

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