Retirement Fund Advice

[supersunbird]

So, my provident fund finally got transferred into the preservation fund on 7th March. It is now 5 days later and i decided to go online and check only to see this(Gross investment return redacted, its a negative percentage though:

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This while i get a steady 7.15% on my Savings account at the bank.

Look at it this way, your bank will never give you 20.4% (the below is 2013 return):



And if you had been invested since 1 Jan 2019, you would have gotten the below:



The issue is that share prices go up and down in the short term.

 

[AnonBankingExecutive]

Hi Everyone

i'd like some input with regards to a retirement fund.

I recently resigned from my job, and have a retirement fund with the company through liberty.
Looking at the funds income i can clearly see its rubbish, and decided to withdraw the monies and put them together with my savings since that yields more interest.

However i lack the knowledge of the tax implications in doing so. I've heard from a few people that a person's first withdrawal of such funds has a tax break but that in turn screws up your future much larger withdrawal when the time comes.
The funds financial adviser was completely useless in assisting with this. My options are below in the screenshot.

So there was a submission issue which gives me the opportunity to change my mind.
Any recommendations ? I am not employed since i am studying so i cannot transfer to a new employer.

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There are several consequences that you need to be aware of.

Preservation funds offer you one free withdrawal during your lifetime. You could always transfer in there. You can make one partial or full withdrawal from a preservation fund, prior to age 55.

You may be about to reduce your retirement funding by more than 18% because of capital needs.

My suggestion; find a really qualified advisor to assist. Should you need to be put in touch with someone I will gladly help you find the right person for the job.