The new administration fees applicable to these members are as follows as from 1 April 2020:
Trustee endorsed In-Fund Living Annuity – fee unchanged: 0.05% per annum (excluding VAT), recovered monthly, in respect of the first R1 500 000 of each member share (and nil in respect of the portion of each member share above this threshold) subject to a minimum fee of R26.50 per member per month (excluding VAT).
Extended range In-Fund Living Annuity – fee unchanged: 0.10% per annum (excluding VAT), recovered monthly, in respect of the first R1 500 000 of each member share (and nil in respect of the portion of each member share above this threshold) subject to a minimum fee of R26.50 per member per month (excluding VAT).
The fee for paid-up members, phased retirees and pending exists has been changed from 0.10% per annum of member share, to a flat R26.50 per member per month (excluding VAT).
Note: All fees are reviewed periodically.