Personal Pension

This is an individual pension arrangement where members save for retirement either as individuals or as a group, subject to RBA rules and regulations.

Contributions are remitted to the investor who may be an insurance company or fund manager, on a regular basis. This money is invested and earns compound interest. The rate of interest earned is declared every year depending on the performance of the investing company’s total fund.

Members choose a retirement age from age 50. Benefits above tax free amount are taxable. Members may withdraw before retirement age, but this is also subject RBA rules.

 

LEVELS OF COVER

May be taken together with Life cover

 

INFORMATION REQUIRED FOR QUOTATION OF PREMIUM

•Member chooses amount of contribution.

•Completed application form.

•Copy of PIN and ID card.