Important!

This important information will enable you to make an informed decision before you invest.

Single premium investments in Stratus Retirement Annuity

Your membership of the Central Retirement Annuity Fund ("the Fund") will ensure that when you retire you will be certain of a pension for the rest of your life. The Fund ensures that it meets its obligations to you by taking out a policy on your life with Sanlam. Sanlam also handles the administration of the fund. You pay a contribution to the Fund, and the Fund uses the contribution to pay the premium for the policy.

Sanlam invests the premium in the investment fund(s) of your choice. We refer to the units in the investment fund as the policy investment. This is a long-term policy in terms of the Long-term Insurance Act, 52 of 1998 these units are not units of a unit trust scheme as defined in the Collective Investment Schemes Control Act, 45 of 2002.

At the end of the policy term you can receive up to a third of the value of the policy investment as a lump sum, which is taxable. The rest will be paid to you as a pension for life, which is fully taxable. Or, depending on your choice, the available amount can be used in full to provide you of regular pension payments, which are fully taxable.

How can I determine the value of my investment?


Sanlam will use the premium after the recovery of certain policy charges to purchase units for your benefit in the investment fund(s) of your choice. We purchase units at the unit buying price on the day on which your premium is invested. The buying price and selling price will differ. The buying price can be more than the selling price on the same date. Should the units be sold, the selling price will be used.





What would happen if I die?


At your death, Sanlam pays the value of the policy investment – ie  the  units – as calculated on the date that we receive notification of your death. If you chose the investment guarantee in the case of the Balanced Fund (Low equity) and/or Multi-Manager Balanced Fund (Low equity), Sanlam guarantees a minimum net rate of return of 0% or 3% a year on the investment in each fund. In the case of a claim, the Sanlam Claims Call Centre must be contacted as soon as possible at (021) 916-1710.  They will help to complete the required claim forms and may need death certificate.

In accordance with the Fund rules, the sum to which the policy investment has grown at the date on which Sanlam receives notice of your death will be available for the benefit of your dependants and/or nominees. However, we may only pay out a limited amount in cash, which is taxable. The balance must be used to provide your dependants and/or nominees with regular pension payments, which are fully taxable. Or, depending on their choice, the full amount available can be used to provide regular pension payments, which are fully taxable.



May I complete the application by telephone?


If you prefer to handle matters easily, quickly and efficiently, you may phone our Call Centre at 0860 22 33 90. The centre is staffed by well-trained teleconsultants who have the required product licence.

The Call Centre also has financial advisers who can assist you over the phone or via email.  These advisers are experienced consultants who can advise you on your portfolio, choice of investment ranges, tax, and so on. You are entitled to verify the impact of the policy on your other policies (if applicable), your total investment portfolio, your finances and your needs.

Quality control in the centre is strictly applied and every conversation between you and a consultant and/or adviser is recorded and stored. This means that your voice, instead of your signature, is used as permission for approving an application.





All conversations are confidential and your privacy is guaranteed.


The processes are electronic and you need not complete any paperwork. Please remember to make notes of the information you give us. You can also request written confirmation or copies of documents.





The Call Centre operates from Mondays to Thursdays between 08:00 and 18:00, and on Fridays until 17:00.  The number is 0860 22 33 90.




Where can I make enquiries?





If you have received inadequate information or unsatisfactory service, please contact our Client Protection/Compliance Office by contacting the Sanlam Client Contact Centre at:

Telephone: 0860SANLAM / 0860 726 526
Fax: 021 947-9440
Email: life@sanlam.co.za

As a last resort, if any problem is not resolved to your satisfaction, you can contact the office of the Ombudsman for Long-term Insurance.  The current Ombudsman is:





The Honourable Judge P. M. Nienaber

Private Bag X45
Claremont
7735

Tel: (021) 657-5000 / 0860 103 236
Email: info@ombud.co.za

Particulars of the Registrar for Long-term Assurance
Financial Services Board


PO Box 35655

MENLO PARK

0102

Telephone: 012 428-8000
Fax: 012 347-0221

You can obtain a copy of the rules of the Fund at the Sanlam Client Contact Centre. You will have to bear the costs yourself. The rules of the Fund are available on the Internet.

 In any dispute with regard to the interpretation of the rules an/or with regard to the administration of the Fund, the decision of the Fund is binding on the members of the Fund. If you are not satisfied with such a decision, you can contact the office of the Pension Funds Adjudicator.

Should you submit this transaction electronically, we accept that you did not receive advice from a Sanlam adviser. If you did in fact receive advice from a Sanlam adviser, please do not submit this transaction electronically. In such an event, the Sanlam adviser should submit the advice record together with the appropriate form for this transaction.
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• Stratus Retirement Annuity

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