What we check
- Retirement annuities (RAs)Contributions are tax-deductible within annual limits, and growth inside the RA isn't taxed.
- Tax-free savings accountsGrowth and withdrawals are tax-free, within annual and lifetime contribution limits.
- The two-pot systemSince September 2024, part of new retirement contributions can be accessed before retirement. Using it has a long-term cost.
- FeesSmall differences in yearly fees add up to large amounts over decades.
- Your investment mixWhether your risk level matches how long you have until you need the money.
- Preserving when you change jobsCashing out a pension or provident fund is one of the most expensive mistakes.
Common mistakes
- Starting lateThe years you lose at the start are the hardest to make up.
- Cashing out between jobsTax, plus the lost growth on that money for decades.
- Too conservative too earlyCash feels safe but may not beat inflation over 30 years.
- Never checking if it's enoughMost people don't know their target until it's close.
Is your current policy still right for you? Policies that were right a few years ago often aren't today. A review costs nothing.
Common questions
How much should I be saving for retirement?
It depends on your age, current savings and the income you want. Try the retirement gap calculator for a rough figure.
RA or tax-free savings account?
They do different jobs. An RA gives you a tax deduction now. A TFSA gives tax-free access later. Many people use both.
Which providers do you work with?
Investments are placed through providers including Glacier, Discovery and Allan Gray, depending on what fits your needs.
How this applies to you
General information only goes so far. Your age, family, debts and existing cover all change the answer. A free 15-minute call is the quickest way to find out where you stand.