What is OptiSelect?
OptiSelect is a retirement annuity product that provides you with guaranteed income, pension payments. This would typically come from the two-thirds benefit accumulated in your pre-retirement savings vehicle such as your retirement annuity or pension fund.
You can invest your retirement savings in any one or a combination of the following annuity products:
- Level Annuity: provides you with a guaranteed monthly pension payment that remains level
- Escalating Annuity: provides a guaranteed monthly pension payment that escalates annually at a guaranteed rate
- Select Annuity: provides a guaranteed monthly pension payment that increases through annual bonuses declared
OptiSelect is for members of retirement or pension funds who are at retirement age. In Namibia, if you are a member of a pension fund, you must put at least two-thirds of the capital (money) you have built up in that fund into a pension annuity.
- A cost-effective way to secure a guaranteed monthly pension for the rest of your life;
- A pension income that will never decrease and that offers annual increases to help combat the effects of inflation;
- Increases, that once declared, are guaranteed for life;
- The peace of mind that comes from knowing that your retirement fund trustees endorse your annuity; and
- The security of having your pension managed by Namibia’s market leader in annuities, Old Mutual.
- Investment management fee: approximately 0.75% to 0.85% (incl. VAT) of assets per year. This could vary slightly depending on asset allocation.
- Administration fee: upfront and renewal fees depend on the chosen annuity specifics. These are built into the upfront premium.
OptiSelect gives you:
If the Old Mutual OptiSelect sounds like it could be a good way for you to secure your retirement income for life, feel free to request a quote by contacting Old Mutual Corporate at +264 (0)81 956 1122.