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BELGOTEX FLOORCOVERINGS

BELGOTEX FLOORCOVERINGS. CHOICES MARCH 2010. Feedback. New administrator installed Provident transfers became fully taxable Retirement R300k applies to retrenchments, and SARS apply late Belgotex Carpets Provident Fund transfer Nothing further on retirement reform

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BELGOTEX FLOORCOVERINGS

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  1. BELGOTEX FLOORCOVERINGS CHOICESMARCH 2010

  2. Feedback New administrator installed Provident transfers became fully taxable Retirement R300k applies to retrenchments, and SARS apply late Belgotex Carpets Provident Fund transfer Nothing further on retirement reform www.saopenfund.co.za/Belgotex.htm Online access to benefit values Costs continue to reduce Investment markets ?

  3. FTSE/JSE long-term return 19% 41% 47% -23% 25% 61% 16% 29% -8% 0% -10%

  4. Portfolio returns to 31/12/2009 Capital Guaranteed 7,23% , 2008 8,07% , +3% - 8,9% , 2008 3,0% +5% - 13,3% , 2008 (3,3%) , +7% - 15,1% , 2008 (6,5%) Inflation – 6,3%

  5. Member Investment Choice • Portfolios have different asset exposures

  6. FINANCIAL PLANNING Retirement Planning Risk Planning Estate Planning Illustrative assistance

  7. INVESTMENT PLANNING Defer retirement Additional contributions Invest differently Modern Portfolio Theory More equity means more chance of missing the target

  8. Risk Time line 5 5 5 5

  9. INVESTMENT CHOICES Inflation plus 7% Inflation plus 5% Inflation plus 3% Capital guarantee portfolio How are you going to invest after retirement? Default is Inflation plus 5%

  10. Death Cover 1X annual pensionable salary from fund 2X additional cover facility Underwriting required before increases End of March or “life event” option Premium remains constant (print & sign form) Additional nomination form required Disability cover not optional

  11. IN SUMMARY Do a budget to set a retirement target, then put in place a retirement plan Establish if you need life cover Get professional help for estate planning Stick to your plan

  12. www.saopenfund.co.za

  13. Questions

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