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Why preserve with us?
Continued Growth
Retirement savings remain invested, allowing them to grow until retirement, even after leaving an employer.
Tax Efficiency
No immediate tax is paid when transferring savings into a preservation fund, avoiding early withdrawal penalties.
Flexibility
Employees can access one partial or full withdrawal before retirement, providing flexibility in case of financial need.
In a nutshell
A preservation fund is a retirement savings vehicle that allows individuals to preserve and grow their retirement benefits when they leave an employer’s pension or provident fund, without taking a cash payout. The funds remain invested until retirement.
Customer reviews
Click Here and submit your personal details. You may also call us on 061400000.
Members are allowed to make multiple cash withdrawals from their preservation funds at any time within the first three years of joining the Fund. These cash withdrawals will be subject to income tax deductions. Members are allowed (at any point in time) to transfer their savings to either their new employer's retirement fund or to another approved preservation or retirement annuity fund of their choice.
NB: Fund-to-fund transfers are free of tax.
If, as a member, you become permanently disabled before the age of 55, the Fund's Board of Trustees may approve the payment of a disability benefit. The value of the benefit will be equal to your accumulated credit and will be paid in accordance with the provisions of the retirement benefit.
The fund will provide a benefit equal to your original investment, with all the accrued investment bonuses, less expenses and withdrawals, to your dependents and nominated beneficiaries.
Yes, Cosmic has valid licenses to carry out insurance broker services in Namibia. We are regulated by NAMFISA and we are obligated to abide by the long-term and short-term insurance act.
