A Sanlam Retirement Annuity is a long-term investment designed to provide you with a steady income during retirement. When you retire, you can take up to one-third of your accumulated savings as a cash lump sum, while the remaining amount is used to provide you with a monthly income.
Key Features of Sanlam Retirement Annuity
- Flexible Withdrawals: Upon retirement, you can withdraw up to one-third of your total savings as a lump sum. The rest is converted into a monthly income.
- Online Access: Check your annuity details online or via the “Sanlam My Retirement” mobile app, available on Google Play Store and Apple App Store.
- Loan Options: Your retirement fund can lend you money or provide a guarantee for a loan if it is used to buy, build, or renovate a property you or your spouse occupy.
How to Check Your Sanlam Annuity
You can easily view your Sanlam Retirement Annuity information online or through the mobile app. If you encounter any issues during registration or need assistance, contact the Sanlam contact centre at 0861 223 646.
Withdrawal Rules
The rules for withdrawing from your Sanlam Retirement Annuity are straightforward:
- Maximum Lump Sum: You can withdraw up to one-third of your total savings as a cash lump sum. For example, if your RA balance is R3 million, you can withdraw up to R1 million.
- Full Withdrawal: If the total amount in your retirement annuity is less than R15,000, you can withdraw the entire amount.
Can You Cancel Your Retirement Annuity?
Yes, you can cancel your retirement annuity and get your money back if the total amount is less than R15,000 on the date it is paid out.
Borrowing from Your Retirement Annuity
Sanlam allows you to borrow money from your retirement fund or use it as a guarantee for a loan, provided the loan is used for property-related purposes. This includes buying, building, or renovating a property that you or your spouse will occupy.
Benefits of Sanlam Retirement Annuity
- Tax Benefits: Contributions to your retirement annuity are tax-deductible, reducing your taxable income.
- Investment Growth: Your savings grow over time, thanks to the power of compound interest and professional fund management.
- Financial Security: Provides a steady income during retirement, ensuring financial stability.
- Flexibility: Offers flexible withdrawal options and loan facilities for property-related investments.
Conclusion
Sanlam Retirement Annuities offer a comprehensive solution for securing your financial future. With flexible withdrawal options, tax benefits, and the ability to borrow against your savings, Sanlam provides a versatile and reliable retirement planning tool.
Overview of Public Universities in South Africa
Here's an overview of some public universities in South Africa, including general admissions requirements and estimated application periods. Keep in mind, specific program requirements and dates can vary significantly, so it's important to check each university's official website for the most current information.
University of Pretoria
- Admissions Requirements: National Senior Certificate with minimum scores in specific subjects related to the chosen program; for international students, equivalent qualifications.
- Application Period: Usually opens in March and closes at the end of July for most programs.
University of Cape Town
- Admissions Requirements: National Senior Certificate with pass levels required for degree study; subject-specific requirements depending on the program.
- Application Period: Application opens in April and closes at the end of July.
Stellenbosch University
- Admissions Requirements: National Senior Certificate with required marks; some programs have additional testing.
- Application Period: Opens in March and typically closes at the end of June.
University of the Witwatersrand
- Admissions Requirements: Matriculation certificate with university exemption; required scores vary by faculty.
- Application Period: Begins in March and ends on the 30th of September.
University of Johannesburg
- Admissions Requirements: Matric exemption with a minimum APS score; specific subject requirements based on the faculty.
- Application Period: Opens in April and generally closes by the 30th of September.
University of the Free State
- Admissions Requirements: National Senior Certificate with specific marks for the program applied to; additional requirements for certain courses.
- Application Period: Typically opens in April and closes at the end of August.
University of Venda
- Admissions Requirements: Completion of the National Senior Certificate with an endorsement for diploma or degree studies; specific APS scores needed.
- Application Period: Usually from May to September.
University of Fort Hare
- Admissions Requirements: National Senior Certificate with university exemption; certain programs may have specific requirements.
- Application Period: Opens around May and closes at the end of September.
University of the Western Cape
- Admissions Requirements: National Senior Certificate with specific performance levels; additional requirements for certain programs.
- Application Period: Generally from May to September.
North-West University
- Admissions Requirements: National Senior Certificate with university exemption; program-specific requirements may apply.
- Application Period: Opens in March and usually closes by the end of August.
Rhodes University
- Admissions Requirements: National Senior Certificate or equivalent; minimum academic performance in certain subjects.
- Application Period: Applications open in April and close at the end of September.
Nelson Mandela University
- Admissions Requirements: National Senior Certificate with required scores for chosen programs; portfolio or additional tests for some faculties.
- Application Period: Opens in April, with a deadline at the end of August for most programs.
Cape Peninsula University of Technology
- Admissions Requirements: National Senior Certificate with specific scores; additional requirements for certain courses.
- Application Period: Opens in May and typically closes by the end of September.
University of Limpopo
- Admissions Requirements: Senior Certificate with endorsement for diploma or degree courses; specific APS scores for different programs.
- Application Period: From April to September.
University of Zululand
- Admissions Requirements: National Senior Certificate with an endorsement for bachelor’s degree studies; specific score requirements for various programs.
- Application Period: Usually between April and November.
Central University of Technology
- Admissions Requirements: National Senior Certificate with specific scores for the chosen field of study; additional criteria for certain programs.
- Application Period: Application period generally starts in May and ends in October.
Vaal University of Technology
- Admissions Requirements: National Senior Certificate with a pass that qualifies for admission to bachelor’s degree, diploma, or higher certificate programs.
- Application Period: Typically from May to September.
Walter Sisulu University
- Admissions Requirements: National Senior Certificate with required scores for chosen programs; additional criteria for certain faculties.
- Application Period: From April to September.
This list provides a starting point for understanding the admissions landscape across South Africa's diverse higher education institutions. Given the variability in programs and requirements, it's crucial to consult each university's website for the most accurate and up-to-date information.