Retirement
Alexander Forbes Retirement Fund Newsletter Issue 4 for 2026
alexforbes.com
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Alexander Forbes Retirement Fund newsletter
Welcome to Issue 4 of the AFRF newsletter!
As the year draws to a close, many households may be feeling the pressure of everyday costs, debt
In this issue
repayments and year-end expenses. Looking ahead can be difficult when today’s needs demand so much attention. In this issue, we share practical
Fund update
3
Find and understand your benefit statement
3
You withdrew from your savings pot. What can you do next?
7
What if payday could last beyond your working years?
9
Quick links and seven year-end money checks
11
Reader survey and prize competition
12
Investment performance update
14
information to help you understand your benefit statement, see how savings pot withdrawals may affect your future retirement savings, and learn how today’s contributions can help provide an income after retirement.
Know today. Build tomorrow. Small, informed actions can help you stay connected to your retirement goals and build confidence in your financial future.
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Alexander Forbes Retirement Fund newsletter
Fund update Stay up to date with the latest changes affecting the fund.
The Annual Trustee Report for the financial year ended 31 March 2026 is available, click here to read.
Find and understand your benefit statement Your benefit statement gives you a snapshot of your retirement fund information. It can help you understand how much has been saved, the contributions received and how your money is allocated across the different pots. AF Connect is available 24 hours a day, seven days a week. You can view your latest statement as well as previous statements whenever it suits you.
How to find your statement on AF Connect in to AF Connect or register if you have not • Log used the platform before. • Select Documents. latest statement should appear automatically. • Your Use the available tabs to view previous statements. the arrow next to the statement you want to • Select open. • Log in to InfoSlips to view your statement. Log in to or register for AF Connect Use the screenshots below as a visual guide. The screens may look slightly different depending on your device or platform updates.
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Alexander Forbes Retirement Fund newsletter
Open documents After logging in to AF Connect, select Documents.
Find your latest statement The page displays your latest available statement. Use the tabs to view earlier statements.
Open the statement Select the arrow next to the statement you want to view.
Log in and view your statement. Complete the InfoSlips login steps shown on screen. Continue to InfoSlips Follow the prompt to open InfoSlips.
Alexander Forbes Retirement Fund newsletter
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Alexander Forbes Retirement Fund newsletter
Understanding your benefit statement.
Dear T Stark – we welcome you to the ABC Fund (Pension/Provident Section) on 1 September 2008. Your normal retirement date is September 2041 at 65 years of age.
Your details
Complete the InfoSlips login steps shown on screen.
Name
Mr T Stark
Employer
Avengers
ID/Passport
1234567890123
Employee number
10220489
Date of birth
07/09/1976
Monthly employer contribution
20.50%
Date joined company
01/09/2008
Monthly member contribution
0%
Date joined the fund
01/09/2008
Pensionable service date
01/08/2002
Member number
M12345678
Normal retirement date
30/09/2041
Normal retirement age
65
Annual pensionable or fund salary
R497,305.20
Fund’s registered address
Alexforbes 115 West Street Sandown 2196
Billgroup
Avengers
Member Group
EE 0% ER 20.50% NRA65
Total fund credit Note: Your ongoing monthly contributions are invested according to your specific instructions.
Portfolio summary
10 10a
Transaction summary Vested Pot
Vested portion
10b
11
12
Non-vested portion
Savings Pot
Retirement Pot
Total
%
AF Active Balanced High Growth
R1 333 336.82
R317 168.97
R2 339.54
R4 799.08
R1 657 704.41
100%
Grand Total
R1 333 336.82
R317 168.97
R2 339.54
R4 799.08
R1 657 704.41
100%
Description 1
ABC Fund (Pension or Provident Section)
The name of the retirement fund you belong to and the section you belong to, which can be either pension or provident.
2
Employer name
Your employer’s name
3
ID or passport number
The ID or passport number we have for you – if incorrect please notify your HR or payroll department.
4
Date joined the fund
The date you started contributing to the fund
5
Monthly employer contribution
The contribution rate of the employer
6
Monthly employee contribution
The contribution rate of the employee
7
Normal retirement age
The age set by your employer at which you must retire
8
Annual pensionable or fund salary
Your annual pensionable or fund salary is set by your employer and is a percentage of your annual salary. Usually this is 75%, but it can differ depending on what your employer has implemented. Refer to your benefits fact sheet for more information, which is available from HR/Payroll
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Member group
Shows the contribution rates of the employer (ER) and employee (EE) and the normal retirement age (NRA) 10a Vested Portion
Your vested portion includes all accumulated retirement savings until 31 August 2024, plus investment growth thereon into the future
10b Non-Vested portion
The non-vested portion includes the contributions of provident fund members who were younger than 55 on 1 March 2021 until 31 August 2024 as well as provident fund members who were aged 55 or older on 1 March 2021 and changed funds after 1 March 2021
10
Vested Pot
11
Savings Pot
This pot includes one-third of your contributions made to the fund from 1 September 2024
12
Retirement Pot
This pot includes two-thirds of your contributions made to the fund from 1 September 2024
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Alexander Forbes Retirement Fund newsletter
Beskrywing Opening balance – 01/07/2024 13
Vested Portion3
Non-vested portion
Savings pot
Retirement pot
Total
R1 293 015.53
R293 847.06
R0.00
R0.00
R1 586 862.59 R25 486.86
Employer contributions
14
R0.00
R16 991.24
R2 831.87
R5 663.75
Employee contributions
15
R0.00
R0.00
R0.00
R0.00
R0.00
Other transactions
16
R0.00
R0.00
R-29 509.70
R0.00
R-29 509.70
R0.00
R0.00
R-29 509.70
R0.00
R-29 509.70
17
R0.00
R0.00
R0.00
R0.00
R0.00
Additional voluntary contributions
R0.00
R0.00
R0.00
R0.00
R0.00
Expenses
R0.00
R-2 917.54
R-487.25
R 974.50
R-4 379.29
GLA premiums
R0.00
R-1 773.72
R-295.62
R-591.24
R-2 660.58
Disability benefits
R0.00
R-994.62
R-165.77
R-331.54
R-1 491.93
Administration fees
R0.00
R-143.76
R0.00
R0.00
R-219.18
Other fees
R0.00
R-5.42
R-0.73
R-1.45
Annual Savings Claim: Transfers in
18
Switches in
R30 000
Switches out
R-7.60 R30 000
R-24 235.05
R-5 764.95
R0.00
R0.00
R-30 000.00
Switches
19
R0.00
R0.00
R30 000.00
R0.00
R30 000.00
Investment return
20
R64 556.34
R15 013.16
R-435.38
R109.83
R79 243.95
Closing balances – 30/09/2024 21
R1 333 336.82
R317 168.97
R2 399.54
R4 799.08
R1 657 704.41
Description 13
Opening Balances
14
Employer contributions
15
Employee contributions
16
Other transactions
17
Transfers in
18
Expenses
19
Switches
20
Investment returns
21
Closing balance
The value of your retirement savings in the fund (fund credit) at the beginning of the reporting period. The contributions that have been received by your employer and invested in the period of the statement. The statements reflect gross contributions. Expenses are now shown separately. See your benefits fact sheet for details. All your contributions invested in the period of the statement. The statements reflect gross contributions. Expenses are now shown separately. See your benefits fact sheet for details. This refers to transfer values, additional voluntary contributions, bulking allocations, divorce orders, maintenance orders, called-up loans, savings pot withdrawal claims and management committee if applicable. Details of the “other transactions”. A breakdown of your fund benefits and fund expenses. The expenses are made up of administration, reinsurance premiums, as well as any other ad hoc fees or deductions. Shows if you have changed portfolios at any time, or the rebalance of portfolios if a member is in lifestage, plus the once-off two-pot seeding transfer. The actual rand change in your investment value over the reporting period which can be positive or negative, depending on the performance of the markets. The value of your retirement savings in the fund (fund credit) at the end of the reporting period.
What should you check?
Your name, identity or passport number, employer details and date of joining the fund.
Your normal retirement age and pensionable or fund salary.
Your employer and employee contribution rates.
Contributions, transfers, expenses, investment returns and other transactions and your closing balance for the reporting period.
Your vested, savings and retirement pot balances.
If something does not look right, contact your HR or payroll team to update personal or employment information. For questions about your fund’s statement, contact your HR or Payroll department for support.
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Alexander Forbes Retirement Fund newsletter
You withdrew from your savings pot. What can you do next?
How a withdrawal can affect your retirement savings
South Africa’s two-pot retirement system gives you access to part of your retirement savings before retirement. From 1 September 2024, one-third of your retirement fund contributions are allocated to the savings pot. You may generally make one savings pot withdrawal in a tax year, if needed, subject to the applicable rules.
The example below illustrates how the frequency of withdrawals may affect a member’s retirement outcome.
A withdrawal may help when you are under financial pressure, but it is taxed and reduces the amount that remains invested for your future. Before deciding, consider the immediate need as well as the long-term effect on your retirement outcome. Try the two-pot withdrawal calculator to see an illustration of how a withdrawal may be taxed. In these examples, each member earns R350 000 a year, contributes 15% towards retirement over 30 years and receives a 5% annual salary increase. The only difference is how each person uses the savings pot.
Naledi leaves her savings pot invested
Naledi does not make any savings pot withdrawals. Cash received: R0 Estimated retirement outcome: R3.57 million Retirement savings reduction in rands: R0
Kabelo withdraws occasionally
Kabelo makes two savings pot withdrawals over 30 years, about once every 10 years. Cash received: R319 000 Estimated retirement outcome: R2.60 million Retirement savings reduction in rands: R697 387
Amina withdraws every year
Amina makes a savings pot withdrawal every year. Cash received: R384 000 Estimated retirement outcome: R2.40 million Retirement savings reduction in rands: R870 400
What this shows:
What this shows:
What this shows:
Keeps all savings invested for future growth.
Receives cash before retirement, while less money remains invested.
Receives more cash along the way, with the lowest estimated retirement outcome of the three scenarios.
Persona
Withdrawal pattern
Cash received
Estimated outcome
Reduction (R)
Reduction (%)
Naledi
No withdrawals
R0
R3.57 million
R0
0.0%
Kabelo
Every 10 years
R319 000
R2.60 million
R697 387
10.6%
Amina
Every year
R384 000
R2.40 million
R870 400
13.2%
These examples are for illustrative purposes only and are not financial advice. Actual retirement outcomes will depend on individual circumstances, contribution history, retirement age, investment returns and preservation decisions. Figures are based on actuarial assumptions and may be rounded.
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Alexander Forbes Retirement Fund newsletter
Why withdrawals can have a lasting effect Tax is deducted from a savings pot withdrawal at your marginal income tax rate.
The good news: you can take steps to recover If you need to use your savings pot, the following smart ways may help you get back on track:
The amount withdrawn can no longer earn future investment growth.
I ncrease your retirement contributions when you can.
Frequent withdrawals can have a greater effect because less money remains invested over time.
se part of a bonus or salary increase to U strengthen your retirement savings.
For more information about tax, visit the SARS website
If you withdraw If you withdraw occasionally every year Smaller adjustments may help you recover over time.
More deliberate action may be needed.
Increase your contribution by 1.6% after each withdrawal.
Consider increasing contributions regularly, by at least 1.98% every year.
Consider increasing your contribution after a withdrawal, using part of a bonus or salary increase, and avoiding the full available withdrawal where possible.
Consider withdrawing only what you need, skipping withdrawals in some years and reviewing your retirement plan after each withdrawal.
These scenarios are for illustrative purposes only and are not financial advice.
ithdraw only what you need rather than W the full available amount. kip a withdrawal in years when you have S another way to manage the expense. eview your retirement plan after a R withdrawal and get financial advice if you need help.
A simple way to think about it A savings pot withdrawal is not extra money. It is money taken from your future retirement savings. If you withdraw, look for realistic ways to rebuild what you have used. The savings pot is there to help when you need it, but how you use it matters. The impact of withdrawals depends on the amount withdrawn, timing and future contribution levels. Frequent use can reduce your retirement savings more significantly. Every rand left invested has more opportunity to grow for your future.
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Alexander Forbes Retirement Fund newsletter
What if payday could last beyond your working years? Every month, your salary helps you take care of life today. But it’s also worth thinking about another important payday: the income your retirement savings could provide when you stop working. When you contribute to your retirement fund, you are not simply setting money aside. You are helping to build an income that could support your lifestyle in the future. Think of every contribution as a payment to your future self.
Two paydays. One future. The salary paid into your bank account covers today’s needs, such as groceries, transport, school fees and household expenses. Your retirement contribution has a different job. It helps build the income you may rely on when you are no longer earning a regular salary.
The more consistently you contribute, and the longer your money remains invested, the greater the opportunity for it to grow over time.
Why youraction retirement One small today fund can work hard for you Tax advantages Retirement fund contributions may qualify for tax deductions, subject to the limits in tax legislation. Increasing your contribution may therefore cost less than you expect while helping to strengthen your retirement savings. Strength in numbers Retirement funds may benefit from institutional pricing and economies of scale, which can help keep more of your money invested for the future. Time to grow Money invested for longer has more opportunity to grow. Starting early, contributing consistently and staying invested can make a meaningful difference to your retirement outcome.
A question worth asking Many people focus on how much they have saved. A better question may be: “What monthly income will I need when I stop working and how much do I need to save now to fund it?” Retirement planning is not just about building a savings balance. It is about creating an income that can help support the lifestyle you want in the future.
One small action today The next time your salary increases, consider directing part of the increase towards your retirement savings. Even a small change today may help strengthen the income you could depend on in the future.
Your future payday starts now Every contribution is more than a deduction on your payslip. It is an investment in your future income, independence and financial security. What income are you building for your future self?
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Alexander Forbes Retirement Fund newsletter
Quick links Get the most from your retirement benefits with AF Connect AF Connect gives you simple online access to your retirement fund information. You can use it to view your fund value, download documents, update key details and access tools that help you understand your benefits. If you are not registered yet, do not delay. Make sure your contact details are up to date with your HR or payroll team, then register for AF Connect and take charge of your retirement savings.
My Money Matters Looking for clear, helpful financial guidance? It’s all about the member experience and using everyday words to make information accessible and meaningful to everyone. Our communication uses plain language (familiar words, relatable examples, helpful visuals) to give members the right information at the right time using a friendly, positive tone.
My Money Matters Centre: 0860 000 381 Email: mymoneymatters@alexforbes.com Website: mymoneymatters.alexforbes.com
Register or log in: AF Connect
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Alexander Forbes Retirement Fund newsletter
Seven small money checks before year end
1
Cancel what you no longer use. Review subscriptions and recurring payments, then cancel services you no longer need.
Check your bank charges. Consider whether your bank account and transaction habits still suit your needs.
2 3
4 5 6 7
Review your insurance cover. Check that important belongings and major risks are adequately covered without unnecessary duplication. Plan for January now. List school fees, transport and household costs before festive-season spending begins and save for these expenses where possible. Check your credit report. Look for unfamiliar accounts or incorrect information and raise concerns promptly.
Organise your financial documents. Keep important policies, account details and instructions together where a trusted person can find them.
Automate one helpful habit. A scheduled payment towards a goal can make consistency easier.
Help us make the newsletter more useful Tell us what worked, what you would like us to explain next and what action you may take after reading this issue. Complete the short survey for a chance to enter the prize competition.
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Alexander Forbes Retirement Fund newsletter
Investment returns Performance of investment portfolios to 30 September 2026 Let’s take AF Balanced High Growth as an example The value of R100 invested over various periods to the end of September 2026
2
1
Over a period of 10 years you would have R29 more for every R100 you saved in this investment portfolio instead of its benchmark.
AF Balanced High Growth and Performer Benchmark
We measure how well a portfolio is performing by comparing it to a benchmark1. We can see that the portfolio is better than its benchmark over most periods.
4
R282 R253
R181
R175
Over long periods, we expect the value of investments to grow in line with its target, which may not be the case in shorter periods. For this reason, it’s better to focus on long periods like five or ten years when you look at retirement savings.
R156 R152 R100
R109
R101
3 months
R106
1 year
3 years
Source: Alexforbes
5 years
10 years
5
Keep in mind that the value of your investments goes up and down.
3
Invest over long periods for your money to grow, the longer the better.
AF High Growth
AF Passive Bold R274
Benchmark
R252
R179 R180
Benchmark R155 R156
R188
R180
R107 R107
R175
R101
R160 R101
R101
3 months
R100
R110 R108
1 year
3 years
5 years
10 years
3 months
1 year
3 years
5 years
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Alexander Forbes Retirement Fund newsletter
Details on how to read the charts are included on the previous page.
AFRF Houseview Income Target Benchmark
AFRF Passive Houseview Income Target R155 R152
Benchmark
R154 R152
R111 R110 R101 R101
R111 R110 R101 R101
3 months
1 year
3 years
AF Retirement Navigator
3 months
1 year
3 years
Clarity Performer
Benchmark
Benchmark R119
R102
R175
R109
R102
R187
R156 R152
R101 R100
3 months
1 year
3 months
R109 R106
1 year
Click here to view the investment returns for all trustee approved portfolios.
3 years
5 years
5252-2026-11 • Getty Images
Contact us 0860 100 333
Monday to Friday between 08:30 and 17:30
While care has been taken to present correct information, the fund, its trustees/principal officer and Alexforbes, its directors, officers and employees, take no responsibility for any actions taken based on this information, all of which require financial advice. Please speak to your financial adviser for advice tailored to your individual financial needs.
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