Retirement Notification Form - samro

DECLARATION OF INTENT TO RETIRE FROM SAMRO'SRETIREMENT ANNUITY FUND FOR ITS MEMBERSI,.................................................................................................................................................ID NO ..............................................................................Cell No………………………………, beinga member of the SAMRO Retirement Annuity Fund, hereby declare that I reached the age of................ on ........................20............, and hereby confirm my decision to retire from the Fundon ......................... 20..........I appreciate and understand that following my retirement in terms of Rule 5, and after the credit inmy account in the Fund has been paid to an insurer to purchase an annuity and / or commuted toa lump sum, I can receive no further benefits from the Fund.For tax-clearance purposes, I advise that my Income Tax Number is ........................................,and that I render my return to the .....................................................................office of theReceiver of Revenue.I hereby elect to commute R ______________ (maximum 1/3 of the benefit if the Fund valueis more than R 75,000). The balance of my annuity must be used to purchase an annuityfrom ___________________________________________ (name of registered insurer).Copies of your ID, the annuity application form and annuity details must be attached tothis notification.SIGNED BY ME AT ......................................................, on this.......................................day of................................................. 20........., IN THE PRESENCE OF THE UNDERSIGNED.................................................... ...................................................Signature (member)Full Name (member)As witness1. ................................................... 2. ...................................................

RETIREMENTIn terms of the Rules of the Fund, drafted under the Pension Funds Act, it may not take placebefore the age of 55 and must take place not later than the age of 75. A member can, therefore,elect to retire at any time after the age of 55. In this respect we must point out that, once amember has "retired", no further contributions can be made by SAMRO on the member’s behalfto the Fund, and members can receive no further benefits from the Fund. It is thus in the interestof every member to delay their "retirement" for as long as possible. Please provide your bankingdetails below:BANK: ...........................................................................BRANCH: .......................................................................TYPE OF ACCOUNT:...................................................BRANCH NUMBER: ......................................................ACCOUNT NUMBER: ..................................................ACCOUNT HOLDER: ...................................................