RA's for dummies...

koogs said:
Thats great news. I am still waiting for Old Mutual's actuaries to get back to me with a breakdown of the transfer fees and penalties. Apparently they need 2 weeks to do this.:confused:
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fark me. the actuaries? that's normally an admin's person function. that's gonna be the most expensive quote ever if an actuaries is gonna do that for two week dedicated. total bs.
 
Hello all,

so currently im with my company paying into a provident fund

Im thinking of cancelling this and getting myself a RA

whats the best RA to go with.

Budget is like R1k at the moment

got a quote with sanlam for a payout of like 1.7m after another 28 years with no growth
 
I.am.Sam said:
Hello all,

so currently im with my company paying into a provident fund

Im thinking of cancelling this and getting myself a RA

whats the best RA to go with.

Budget is like R1k at the moment

got a quote with sanlam for a payout of like 1.7m after another 28 years with no growth
Click to expand...

Stay away from Sanlam please.

Get a quote from 10x, Sygnia and Allan Grey I would say
 
I.am.Sam said:
Hello all,

so currently im with my company paying into a provident fund

Im thinking of cancelling this and getting myself a RA

whats the best RA to go with.

Budget is like R1k at the moment

got a quote with sanlam for a payout of like 1.7m after another 28 years with no growth
Click to expand...

Stay away from Sanlam. Go with 10X.co.za

Also, are you sure you can cancel your provident fund? Some companies force people to have them.
 
I would say find out all the perks from your company. Maybe they are paying all your fees (who knows).
 
I moved my RA to Sygnia - super helpful and professional and they managed to get the process finished sooner than I thought. Well impressed.
 
Provident fund gives you more flexibility than and RA. But if you decide to get an RA get a passive one like 10x or Sygnia. 10x's is pretty straight forward, my pension is there and you can actually read the statements without needing an actuary to figure it out for you.

Then maybe get a second one from the likes of Allan Gray which is actively managed. You'll have best of both worlds from two different providers.

DIY route - there is EasyEquities but it's up to you if you'd want to "risk" it.

My vote is definitely 10x.
 
I.am.Sam said:
im hoping i can , or maybe invest as little as possible
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I did exactly what you want to do :p Wanted to cancel my company provided fund and get an RA, but they said no...so now I have an RA separately from my provided fund.
 
If you are resigning and taking on a new job, my advice would be move the provident fund out (as that is law), and convert that to a preserved fund.
 
Method said:
I did exactly what you want to do :p Wanted to cancel my company provided fund and get an RA, but they said no...so now I have an RA separately from my provided fund.
Click to expand...

So with a R1000 budget im going to maybe see if half can go into a provident fund and other half into a RA

will need to see how this works

just worried about fees cause i dont understand investments in general
 
Here is a question,

Am I insane for not wanting an RA? I am convinced that due to the limit of 30% max international exposure for RAs even with the tax saving I can still get a better return over all if I dump all my saving directly into an international fund outside of SA in hard currency.
 
Sam should probably also remember that his employer probably covers the admin costs when you contribute to an employer provident fund. If they do allow you (only contractors are allowed the option to invest outside as far as I'm aware, permanent must contribute to an employer fund) to go solo you may have to pony up for those fees.
 
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