When we start working and and saving towards our retirement, most don’t pay much attention to what is being offered, what will be required at the time of retirement or how much we need in order to retire.
Your financial adviser will typically show you hypothetical graphs of what you need based on your current situation, where you want to be at retirement age and “if” the returns are achieved, how much you need to start investing today.
With the retirement Annuity Calculator , you can make your own scenarios to see how far you are behind in your investment planning or how ahead you are (if there is such a thing)
You can perform the following easy calculations on the Retirement Annuity Calculator
1. Determine how long a lump sum will last over a fixed period at an assumed interest rate
For example: A lump sum of R1 million at retirement will give you R8300 approx/month over a 20 year period at an growth rate of 8%/annum
2. Determine how much you need at retirement age to draw a fixed amount every year.
For Example: To withdraw R25,000/month for 20 years at a growth rate of 8.00%/annum, you would need a lump sum of R3,008,783.01
3. Calculate how long a lump sum will last if you draw Rx/month at a given growth rate
For Example: An annuity with a lump sum of R1,000,000 and a growth rate of 8.00% and payout of R8,000/month, would last for 22.06 years.
4. Determine what growth rate you need with a fixed amount in order to withdraw Rx/month for Xyears
For Example: To withdraw R20,000/month for 20 years with a starting principal of R1,000,000, you would need to achieve a growth rate of 24.2859519108% per annum.
These types of calculations are not only enlightening, giving you a very good idea of what you need to invest to achieve the type of retirement you dream of but also enable you to quickly and easily check what people are telling you to be true.
We hear cases of people in their retirement who get involved in schemes that offer crazy returns and lose it all or a huge part of their retirement because they have come to realise that they are not going to be able to afford to continue living as they are until they die which results in them taking on far too much risk for that stage of life, or simply because they are greedy.
Take some to to play around with the retirement annuity calculator and if you would like any financial/insurance advice, we will put you in touch with a licensed financial service provider.
Pension calculations
Hi there
My id number is 5803275358085 and worked for Clover S.A Sanlam Fund 2119 Clover S.A Pensionefonds and would like to check if anything is owed to me. I worked for them from 1992 to 2006.
I would like to know how much my pension is.
7103295522085
from 2005 to Date
Please use the search box in the blue strip to search for your fund name EG “xyz company pension fund” and the administrators contact details will be returned.
I would like to know my benefits if iretire now my id no is 6704046701083 Dumisani
Hi Dumisani, please use the search box to search for your fund name and contact your funds admins directly. The calculators are to give you an indication and may vary from policy to policy.
I have a preservation fund with sanlam, due to me in 2021, and i will still have five years to go on retirement in my current job, can i ask that it can be extentend r are there funds where it can be transferred until i actually retire?
Hi Helen, Izhaar was in touch with you, please indicate how you felt about the service you received from him.
Hi,I would like to know how much money could I get if I retire now I’ve been in the saps since 2008.my id no is 8702060794081
Hi, please make contact with the GEPF directly by using the link below.
https://www.pensionfund.co.za/fund-administrators-and-the-funds-they-administrate/government-employees-pension-fund-gepf-administration-services/
hi i’m siyabulela i would like to know my pension fund i staterd working for smallen since 2007 up to date id no 8110036001088.
Please use the search box in the blue strip to search for your funds name and make contact with the administrators directly. We do not have a fund with the name smallen in the database.
How much have I contributed in my fund if I have worked from 2012/02/02 till 2015/09/24 from Unilever on field sales
Please use the search box in the blue strip to search for your fund name which will give you the fund admin contacts
Hi I work for SARS for 30 years. I like to have a Letter from GEPF for Pension Value
Hi, please see below contact info
https://www.pensionfund.co.za/fund-administrators-and-the-funds-they-administrate/government-employees-pension-fund-gepf-administration-services/
If my fund has R1.1 million how much am I going to get after tax
I’ve been working for fine fuel since from 1985 till now so I would like to know whn I go home how much package I will have.5704045384080
I’ve claim in June, how long does it takes to be paid by NBC
Hi, you must stay in contact with NBC and demand feedback, there is no reason for a claim to take a long time if the paperwork is correct.
Hi I’m khumalo Ss,6904155720086 been working for department of education from 2001-01-01 untill foto date i want to know how much i have so far.
Please contact the GEPF directly on the numbers on the following page.
https://www.pensionfund.co.za/fund-administrators-and-the-funds-they-administrate/government-employees-pension-fund-gepf-administration-services/
hi,im mncedisi mosehle nd ive claimed my benefits with sanlam;id like to know how much is it after tax.id,8608256155088
Hi, please contact your fund administrator directly by using the search box at https://www.pensionfund.co.za to search for your fund by name.
I’m working since 1980. I would like to know how much my pension is worth