Private Pension

[Dianysis]

Good day.

Please, I need some advice.

I work for a company whereby I have to take care of my own retirement savings. The company does not contribute towards it at all.

Not the best situation to be in, but at this point in time, I need to suck it up.

Which financial institutions are the best for someone in my situation?

Anyone else in this situation that can share some insights, warnings, etc?

Thanks in advance.

 

[Hamster]

10x.co.za and outvest.co.za

I'm with Allan Gray (RA) and up to recently had company pension with 10x. If I was to start a new RA right now I'd go OUTVest without a doubt (CoreShare funds).

Once you start funding your RA take the proof of your monthly contribution to your HR/finance department and see if you can get the tax break immediately instead of waiting for Filing Season.

 

[Dianysis]

10x.co.za and outvest.co.za

I'm with Allan Gray (RA) and up to recently had company pension with 10x. If I was to start a new RA right now I'd go OUTVest without a doubt (CoreShare funds).

Once you start funding your RA take the proof of your monthly contribution to your HR/finance department and see if you can get the tax break immediately instead of waiting for Filing Season.

Thank you for your advice.

 

[backstreetboy]

Sygnia. Up to R800k it's the cheapest.

 

[Dianysis]

Sygnia. Up to R800k it's the cheapest.

Thank you. Will check it out.

 

[^^vampire^^]

I've had my money in the following and been quite happy:
10x
Sygnia
Allan Gray
Coronation

 

[SafariTin]

<snip>

Which financial institutions are the best for someone in my situation?

<snip>

Sygnia. Up to R800k it's the cheapest.

^this

Cheapest at the moment seems to be Sygnia - at least until you get to R800,000 at which stage OutVest becomes cheapest.

Other's to consider are Easy Equities and 10X. (if you are uncomfortable with these newer brands, my rule of thumb is not to buy investment products from insurance companies)

I'm not an financial adviser, but if I were in your position the two things I would pay a lot of attention to:

1. Don't use a Financial Advisor - RA's are easy these days and the fees for FA's are unneccessary
2. Consider investing in a passive fund as the fees on actively managed funds are generally higher and they can't guarantee returns.