Introducing more ways for you to get more money in retirement
At Discovery Invest, we are always looking for ways to improve our product offering so that you can get the most out of your retirement savings. We are excited to announce the new enhancements and benefits that will be available to you.
Enjoy 0% annual administration fees with the Boost Accelerator
If you have a lump-sum Discovery Core or Classic Retirement or Preserver Plan, you have the opportunity to use the boost to your retirement savings (called the Retirement Upfront Investment Integrator) to offset 100% of your annual administration fees.
If you choose this option, your Retirement Upfront Investment Integrator boost will be reduced by R2 for every R1 of annual administration fees offset. As long as your Retirement Upfront Investment Integrator boost has a positive value, you will enjoy zero annual administration fees on all funds. The remaining boost value (if any) will be paid out into your plan when you reach age 65.
Lower administration fees
From 31 January, annual administration fees for the lump-sum Discovery Core or Classic Retirement and Preserver Plans will be reduced to 0.4% + VAT for all new business.
In the first week of April 2017, existing clients invested in the lump-sum Discovery Core or Classic Retirement or Preserver Plans will enjoy a reduction in their annual administration fees from 0.55% + VAT, to 0.4% +VAT. This reduction will be applied automatically.
You can get more boosts to your retirement savings when you make additional lump-sum investments
The Enhanced Savings Integrator is designed to encourage clients to save for retirement on an ongoing basis. This benefit is available on the lump-sum Discovery Core Retirement Plan.
When clients make additional contributions, the Enhanced Savings Integrator provides an additional boost to their retirement savings of up to 20% of the additional contribution made. This increased boost percentage depends on the term to age 65 and allows clients to top up their Retirement Upfront Investment Integrator boost value - enabling them to enjoy zero annual administration fees on all funds for longer.
This benefit will be available from 31 March 2017.
You can further enhance your Retirement Investment Integrator boost with the Discovery Miles Integrator
If you have a Discovery Card and you earn Discovery Miles, you now have the option to use your Discovery Miles to increase your Retirement Investment Integrator boosts. When you do this, we will boost the amount of Discovery Miles transferred by up to 200%, depending on your Vitality status.
The Discovery Miles Integrator is available on all lump-sum Retirement and Preserver Plans. This benefit will enable you to enjoy zero annual administration fees on all funds for an even longer period if you have the Boost Accelerator.
This benefit will be available from 31 March 2017.
Contact your financial adviser for more information on these products and benefits.
Discovery Life Investment Services Pty (Ltd) branded as Discovery Invest is an authorised financial services provider. Registration number 2007/005969/07.
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