Fowlds

11986317
MRS HC FOWLDS
4 PIERMEER BLV VERWOED RD
KOOKRUS
MEYERTON
1961
Reference number 42 6365916 9
Identity/Passport number: 5905030126085
Year of assessment: 2018
Certificate start date: 01-03-2017
Certificate end date: 28-02-2018
Tax jurisdiction:
South Africa
Date: May 2018
Dear MRS FOWLDS
Metropolitan Life Retirement Annuity Fund - Income Tax Certificate and annual benefit statement
You are a member of the Metropolitan Life Retirement Annuity Fund (the Fund). This certificate includes all contributions
received in the tax year ending 28/02/2018 by the Fund. Contributions received in Metropolitan's bank account for any
retirement annuity after 28/02/2018 won't be included in this certificate but will be shown on next year's certificate instead.
We base this information on the assumption that the retirement annuity contributions were made by you.
We've sent this information to the South African Revenue Service (SARS), as legislation requires.
SARS source code
METROPOLITAN LIFE RETIREMENT ANNUITY FUND
Fund registration number: 12/8/17781, Tax clearance number: 18/20/4/15459
Membership
Name: MRS FOWLDS Date of birth: 03/05/1959
Contributions for tax year ended 28/02/2018
4006 42 6365916 9 R 9721.36
Total contributions R 9721.36
You may view the latest financial statements and Fund rules at the registered office of the Fund at the Metropolitan offices at
1 Mispel Road, Bellville, or alternatively, the Fund rules are available on http://www.metropolitan.co.za. You may also view
the Smooth Bonus Fund bonus declaration history on this link.
We have also enclosed a statement of your benefits as well as a newsletter from the Fund for your information.
Update your personal information so that we can keep in touch
Please inform the Fund's administrator, Metropolitan, if your contact details have changed, or if you wish to change your
nominated beneficiaries. The distribution of death benefits under a retirement annuity fund is made in terms of Section 37C
of the Pension Funds Act. In terms of this section, the Fund must consider your dependants and any nominated
beneficiaries and it is therefore important that you keep the Fund informed of any changes to your dependants and/or
beneficiaries.
Contact us
If you have any queries, comments or complaints regarding the Fund or your benefits, please contact the Metropolitan
Contact Centre or your nearest Metropolitan branch:
• PO Box 2212, Bellville, 7530 Email info@metropolitan.co.za
• Call 0860 724 724 Fax (021) 940 6142
If you do not receive an acceptable response within 30 days, you may refer your concerns to: The Pension Fund
Adjudicator, PO Box 580, Menlyn, 0063. Email: enquiries@pfa.co.za. Website: www.pfa.org.za
Yours sincerely
Deidre Wolmarans
Head: Life Events Solutions
Metropolitan Retail
Metropolitan, a division of MMI Group Ltd, an authorised financial services provider and registered credit provider (173).
Parc du Cap 7, Mispel Road, Bellville, 7530; PO Box 2212, Bellville, 7535
T +27 (0)21 940 5911, F +27 (0)21 940 5730
Refer to the Metropolitan website for directors and company secretary details: www.metropolitan.co.za
Co Reg No: 1904/002186/06

BENEFIT STATEMENT
MRS HC FOWLDS
The table below provides a statement of benefits provided in respect of membership in the Fund.
RETIREMENT VALUES
Membership
Fund Value
Projected retirement value
as at end
5/2018 Policy
entry date
Lower investment
return scenario
Higher investment
return scenario
Retirement
date
42 6365916 9 R 109260.86 08/2002 R 262326 R 323299 08/2025
The projected values in the above table are not guaranteed and should not be seen as an accurate forecast of the retirement
proceeds you may receive at the retirement date. The projected values are based on assumptions about future investment
returns and only provided to assist in your retirement provision planning.
The projected values have been calculated assuming two different investment scenarios. The values have been calculated by
accumulating the current fund values and the future expected contributions, after deducting the charges and cost of any benefits
provided, by the current bonus rate until the end of the current year and thereafter by an assumed future bonus rate of 4% per
year (lower investment return scenario) and 8% per year (higher investment return scenario) until the retirement date.
At the time of retirement or withdrawal due to ill-health the value of your benefit will be equal to your member's retirement value
in the Fund at that date. Your retirement value is subject to change as markets can go up or down. The actual investment
return earned on contributions will depend on the gross investment return earned on the assets and the extent to which this
return is reduced by tax and charges.
Benefits paid to members are subject to tax, in accordance with legislation applicable at your retirement from the Fund. If the
annual benefit statement is different to the Fund rules, then the Fund rules will prevail. At retirement, at least two thirds of your
benefit in the Fund must be used to purchase a regular income from a licensed insurer and up to one third can be paid as a
lump sum. If you terminate your membership of the Fund before you reach the minimum retirement age (55), your benefit will
be made paid-up or you may become entitled to a taxable lump sum benefit if the value of all your investments in the Fund is
less than R7 000.
Alterations
The Fund invests your contributions in an insurance policy. If you stop your contributions to the Fund (i.e. your benefit is made
paid-up), or if you terminate your membership or transfer to another retirement annuity fund in terms of Section 14 of the
Pension Funds Act (these are defined as causal events) you may incur a causal event charge. This charge is levied because
we will not receive the full amount of fees we would have had you continued with the contract as agreed at commencement. We
may also charge a transaction fee.
Policy entry date Maximum causal event charge Transaction fee
Before 1/1/2009 Up to 20% of the value of your investment R300
On or after 1/1/2009 Up to 15% of the value of your investment R300
The above charges are the maximum amounts and may not be applicable to your investment. If you are considering an
alteration you may contact us so that we can tell you the exact amount that will be charged at the time of each alteration.
Changes to your retirement annuity(ies)
Contact your financial adviser to help you make an informed decision when:
• You want to change your contributions, benefits or your Fund membership.
• You want to review your investment choices as the value you receive on your retirement date is dependent on the
investment return.
• You retire from the Fund to ensure that your choices are the best suited to your needs.

IMPACT OF INCOME TAX ACT ON RETIREMENT SAVINGS
The Income Tax Act has an impact on your retirement savings in the following ways.
The de minimus rule at retirement
At retirement, members can withdraw the full value of their retirement annuity fund or their pension fund in cash if the value is
R247 500 or less. This cash lump sum payment will be taxed according to the latest retirement tax tables.
Tax deductibility
The tax deductibility of retirement fund contributions is as follows:
• The overall limit is 27.5%
• This limit is calculated on the greater of taxable income or remuneration;
• This is subject to an overall limit of R350 000.
The limit applies to all contributions, regardless of whether they are to provident funds, pension funds or retirement annuity
funds.
Foreign nationals and non-residents
In addition to members who have formally emigrated from South Africa, the following members may also access their retirement
funds before age 55 as a cash lump sum:
• Those members who are no longer resident in South Africa,
• Those members who leave South Africa when their work visa expires.

Metropolitan Life Retirement Annuity Fund
Metropolitan Pension Preservation Fund
Metropolitan Provident Preservation Fund
2018 Edition
From your Board of Trustees,
While South Africa took a back seat in 2017 when it came to international economic and political
developments, 2018 provided its citizens with nothing short of a thrilling start. Following former President
Jacob Zuma's resignation as leader of South Africa in February 2018, Mr Cyril Ramaphosa stepped up to
become the fifth president since South Africa's 1994 democratic transition. Shortly after his appointment
and the 2018/19 Budget Speech, President Ramaphosa reshuffled his cabinet, removing a number of
underperforming ministers.
Local markets responded well to these changes, amongst other things, which suggest that President
Ramaphosa managed to restore some confidence in the South African economic and political landscape.
The Rand strengthened against the US Dollar, trading at a 3-year high of R11.55 towards the end of
February 2018.
Consumer Price Index (CPI) was recorded at a low of 3.72% per year at the end of March 2018, but one
could argue that this is due to the South African Reserve Bank's (SARB) reluctance to reduce interest rates
and provide some relief to our struggling economy. The SARB finally reduced the repo rate by only 0.25%
at the end of March 2018, for only the second time in two years.
According to industry studies, fewer than 6% of South Africans will retire in a financially comfortable
position. We would like to make use of this opportunity to once again highlight the need for adequate and
disciplined financial planning and execution from an early age. It is only through making regular
contributions to a tax-efficient savings vehicle and preserving your current retirement benefits, that you can
achieve financial security and peace of mind when you retire.
While we are hoping that the start of 2018 is a sign of things to come, there are no guarantees in life and
things tend to change very quickly. We, as the Board of Trustees, have been appointed to act in your best
interest. We are comfortable to partner with MMI Holdings, a leader within the financial services industry, to
help you reach your retirement goals.
The South African government is also doing its part in encouraging everyone to contribute towards their
retirement savings. Examples include changes in respect of the tax deductibility of contributions, the
treatment of benefits as well as investment restrictions under Regulation 28 of the Pension Funds Act.
We strongly urge you to speak to your financial adviser throughout your working life to ensure that your
retirement plans are always up to date, and that your solution and investment choices are still suitable to
your circumstances.
Please also ensure that your personal details and beneficiary nomination form is kept updated in order to
give the Trustees guidance on how you want your benefits to be distributed should you pass away.
Please refer to your member certificates for details specific to your solution; otherwise contact Metropolitan
on 0860 724 724 for more information.
In closing, we trust that you enjoyed hearing from us. We believe that a regular review of your solution,
along with your financial adviser, will help you to make informed decisions in your journey towards reaching
financial wellness in retirement.
Regards
The Board of Trustees