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More on switching 
 
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When and where do I switch?            
 
  • You can switch between these portfolios at any time, by completing the investment switching documentation required by the Administrator.
  • In each 12-month period beginning on 1 March, you are permitted one investment switch without any charge.  If you switch more than once per period, an administration fee (currently R491 VAT inclusive, but reviewed from time to time) will be charged to your Retirement Savings Account in the UCTRF. (You can change where your future retirement savings are invested without having to pay a fee.)
 
What choices do I have?
 

Your retirement savings in the UCTRF in effect consist of two components, namely:

  • The contributions UCT has already made for your retirement savings. The amount you have accumulated in this regard is the balance in your Retirement Savings Account; and 
  • The ongoing future contributions UCT is making on your behalf towards your retirement savings.

You can choose separately how you want to invest:

  • Your accumulated retirement savings (i.e. your Retirement Savings Account); and
  • Future retirement savings.

You can choose between the Income Fund, Smoothed Bonus Fund, Balanced Fund, and Shari’ah Fund. Expressed another way, the choice for past retirement savings can be different to that for your future retirement savings.

For example, you could invest your Accumulated Retirement Savings in the Income Fund, and split your Future Contributions equally between the Smoothed Bonus Fund and the Balanced Fund.

switching
 
What happens when I do not exercise a choice when I join?
 
With effect from 1 July 2017, if you don't exercise a choice when joining the UCTRF, your retirement saving contributions will be invested in accordance with the Life Stage Model, unless you are aged 60 or over when you join the UCTRF, in which case your contributions will be 100% invested in the Income Fund.