UCT Retirement Fund Newsletter www.uctrf.uct.ac.za March 2009 April option to switch investment portfolios Investment returns (%) before/after inflation The investment switching opportunity to change your February 2009 Inception to 2009 Feb 2009 investment choice allocations between portfolios (effective 1 year to date April 2009) closed on 6 March 2009. UCTRF Living Annuitants have till 13 March to submit Portfolio A 0.92% 1.97% 10.35% their forms (attachment C) the UCTRF offices, Bremner. The next opportunity to change your investment choice Portfolio B 0.03% 0.06% 12.09% allocations between portfolios will be effective 1 October 2009. Portfolio C -8.32% -9.09% 13.43% Important Decisions of Members The following is a checklist of the important decisions you Do you want to increase your UCTRF must make. If you are not sure about any of these please do contribution? not hesitate to contact the Principal Officer or one of the Trustees. UCT PASS staff will have received their CoE letters 1. You and UCT decide what proportion of your cost of for 2009. You have an opportunity to increase/decrease employment (your total UCT package) is used as the the amount you save for retirement by asking UCT to deemed pensionable amount (DPA). (You can also 1) increase/decrease your DPA - this will also speak to your HR Advisor about this.) increase/decrease your death and disability 2. You decide the investment channel or channels in cover at the same time; and/or which you wish your accumulation amount and your 2) make additional contributions (also known as contributions to be invested. purchased service) to your retirement savings. Either of these options can only be done at the same 3. You decide whom you will: time as you sign your cost of employment (C.o.E.) Nominate to be the recipient of the group schedule for 2009. life assurance amount (form HR155); and Speak to your HR Advisor about this option. Propose (to the trustees) the beneficiaries of See also the UCTRF Toolkit on www.uctrf.uct.ac.za to the benefit from the fund should you die in estimate your retirement needs. service (form HR151). (Most academic staff will have already settled their COE structures with UCT in December or January.) 4. When you retire you choose how your benefit will come to you. Among the choices you have are : to take this as a lump sum, to take this as a pension (in Annual Benefit Statements which case you will have to decide what type of pension to purchase with your lump sum); or to take You will have received your annual benefit statement the benefit as a living annuity either in the UCTRF (ABS) from the Fund showing or by purchasing a living annuity from an insurer. your balance in the Fund as at 31 December 5. When you resign or leave UCT before retirement 2008; you have to choose what to do with your benefit. the detail of how this amount has accumulated You would have the opportunity to be dormant in the (i.e. opening balance plus contributions UCTRF, or to transfer the benefit to another (standard plus any additional ones – e.g. pension/provident /preservation fund; or to take this purchased service; giving up some multiple of as a lump sum after taxation. death cover; Trustee discretionary percentage from savings in the Fund) plus investment Neither UCT nor the UCTRF offer financial advice; and neither is return); and licensed to do so. Staff involved in these areas can give you your death and disability cover for 2009 based information about the Fund and your options, but where you seek on your new cost of employment (where this advice you must seek it from a financial advisor. This newsletter does not constitute financial advice. It aims to had been determined prior to printing date). provide UCTRF members with information. UCTRF: :Defined contribution Provident Fund : Registration no. 12/8/31582/R Bremner Building, Lovers’ Walk, Rondebosch; Postal Address: University of Cape Town, Private Bag X3, Rondebosch 7701 Principal Officer: Ann Tilney (021) 650 2159 For further information see the UCTRF website at www.uctrf.uct.ac.za UCTRF: :Defined contribution Provident Fund : Registration no. 12/8/31582/R Bremner Building, Lovers’ Walk, Rondebosch; Postal Address: University of Cape Town, Private Bag X3, Rondebosch 7701 Principal Officer: Ann Tilney (021) 650 2159
"UCT Retirement Fund Newsletter wwwuctrfuctacza March 2009"