Your Fund & Trustees

Corporate Selection Umbrella Fund

The Corporate Selection Suite Umbrella Funds (CSUF) offers both pension and provident funds that are structured as defined contribution funds. The Funds are commercial Defined Contribution Type A umbrella funds and are required to comply with all aspects of the Pension Funds Act of 1956, as amended from time to time.

The purpose of the Funds is to facilitate members' retirement savings and the prudent management of members' retirement benefits, with the aim of providing members with a reasonable income replacement at retirement. This aim is dependent on various assumptions, such as the preservation of benefits, contribution rate, and investment time horizon.

The Corporate Selection Umbrella Funds Trustees invite members and participating employers to engage with our website to access the latest Trustee newsletters, industry articles, fund information and documents.

Lifestyle Retirement Annuity and Preservations Funds.

A retirement annuity fund is a scheme which is set up to provide retirement and death benefits to members of the public who voluntarily choose to become members and agree to pay regular contributions (or single once off payments) to finance these benefits.

A preservation fund serves the same purpose, but the fund does not receive contributions and receives translocation benefits. For example, a preservation fund may accept a payment transferred from an employer sponsored pension or provident fund which arise as a result of a person’s termination of service with that employer.

The Lifestyle Retirement Annuity and Preservation Funds suite includes a retirement annuity fund as well as both a preservation pension fund and a preservation provident fund.

These funds are registered with the Registrar of Pension Funds (the Financial Sector Conduct Authority), as shown below:

Fund Name Registration No.

• The Lifestyle Retirement Annuity Fund12/8/6776
• The Lifestyle Retirement Preserver Provident Fund 12/8/27975
• The Lifestyle Retirement Preserver Pension Fund 12/8/27974

Two-Pot Retirement System

The much anticipated Two-Pot Retirement System will be implemented on 1 September 2024. This new retirement system seeks to provide financial relief in times of extreme need for members of retirement funds. One positive of this new retirement system is that it encourages preservation as it will be compulsory for members to preserve a certain portion of their retirement savings.

We at Liberty want to ensure that you understand your options, should you wish to withdraw a savings withdrawal benefit from the Savings Component of your policy. We have compiled a how-to-claim infographic to guide you through the claims process. If you are planning to claim for payment of your savings withdrawal benefit, you need to ensure that your personal details are updated prior to 1 September 2024.

Click here to read more about the Two-Pot Retirement Systems’ how-to-claim process.

As the implementation date approaches, we would like to assure you that we are ready to handle all your Two-Pot Retirement System queries. We also remind you to always keep your retirement goals in mind and make withdrawals only when its absolutely necessary to do so, for example in times of financial emergencies.

Please speak to your Liberty Financial Adviser or broker about all matters relating to your retirement.

Access the calculator.

We are also mindful that the Two-Pot Retirement System is relatively complex, so we have created a short explainer video with an accompanying infographic as a reference, to help you navigate this new retirement system.

Watch the video.

View the infographic.

Liberty will endeavour to keep all its stakeholders informed of the latest updates, given the importance and impact of the new system on retirement savings and retirement outcomes.

The links below provide more information:

• Summary Infographic

• Illustration 1: Three-way split

  Understand the fundamentals of the Two-Pot Retirement System and how its components – the Vested, Savings and Retirement Components – directly affect your retirement planning.

• Illustration 2: Kickstarting your retirement

  If you’re just starting out on your retirement planning journey, this article will help you get to grips with how the Two-Pot System lays a solid foundation for your financial future.

• Illustration 3: Mid-Career

  If you’re in the prime of your career, discover how the Two-Pot System reshapes your retirement journey.

• Illustration 4: Counting down to retirement

  Close to retirement? It’s never too late to fine-tune your retirement strategy for optimal benefits.

• FAQ's