A unique retirement savings product.
It allows you to invest in unit trusts.
Ideal for the self-employed.
Ideal for an employee to boost his or her retirement savings.
You get tax benefits and protection, but it comes with restrictions.
Your contributions are tax-deductible, subject to limits.
The capital growth, interest and dividends earned are tax-free.
You may nominate beneficiaries. No estate duty payable.
Safeguards ensure you keep your investment for retirement.
Protected from potential creditors:
1. You cannot transfer or pledge your RA and,
2. You cannot use your RA to secure a loan.
Protected from yourself:
You may only access your money when you retire, earliest at age of 55.
Only one-third maximum available as cash.
Two-thirds must be used to purchase a product for a pension.
You may access your RA before 55 if:
You are permanently disabled
Indeed, a unique retirement savings product.