Retirement Planning

Recent research done by insurers in South Africa indicate that only about 6% of people can retire financially independent. Fortunately, it is never too late to start saving for retirement – but it is imperative that you do start. The sooner the better.

Ascor® wants to help you make your retirement one you have earned and would enjoy, we offer the following assistance:

• Financial Statements for companies
• Trusts & sole proprietors
• Audit/Independent Review
• Financial statements
• Financial statement analysis
• Processing monthly accounting records
• Management accounts, analysis
• Budgets and cash flow forecasting
• Payroll administration
• Cloud based accounting solutions
• All related tax compliance functions
• Business financial planning advice

• Establishing and articulating your retirement goals
• Calculate and assess what you need to save to achieve these goals
• Draft a retirement plan detailing the process and road to financial independence
• Manage your retirement investment portfolio to improve growth without investment risks
• Utilize tax allowances to make provision for retirement
• Having SARS subsidize a portion of your retirement planning
• Chart and measure your progress towards your retirement goals
• Draft and follow a monthly income and expense budget
• Structure the withdrawal from your retirement funds to avoid paying unnecessary taxes
• Preserve current pension and provident savings when you transfer employment

Many retirees underestimate the effect of inflation on the longevity of their retirement funds. For this reason, you need to take care to do your retirement calculations properly and as accurately as possible. If you run out of funds during retirement, chances are that you cannot be re-employed to earn income.

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Financial Planning

Ascor® is a fee based practice providing independent professional financial advice. Our team of post graduate qualified CERTIFIED FINANCIAL PLANNER® can assist you in the process of developing strategies on managing your financial affairs to meet life goals or life changing events. In these uncertain times you need to ensure that you have a personal financial plan or you may run the risk of a compromised lifestyle.

• Planning of Estate and Will
• Advice on Retirement planning
• Wealth creation
• Insurance requirements
• Investment planning
• Medical Aid schemes and planning

Ascor® has a team who can assist in the following areas of financial planning:

The Financial Planning Institute (FPI) of South Africa has recognized Ascor® Financial Advisors CC for its high quality of professional standards by awarding Ascor with an inaugural FPI Professional Practice™ certification.

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Estate Planning

Estate planning is more than just having an updated last will and testament, it is the act of planning and anticipating how a person wants to transfer wealth and assets after his or her death, while minimising cost like executor’s fees, estate duty tax, capital gains tax and donations tax.

• Commercial soundness –to ensure growth and protection of a client’s assets and investments.
• Liquidity – provide income requirements of our clients and those of the client’s dependents and beneficiaries.
• Good governance – provide efficient administration of the estate, preservation of documentation and the smooth and efficient transfer of assets.
• Flexibility – a plan that will be capable of adapting to changed circumstances.
• Minimisation of all costs including taxes.

At Ascor® we put our clients at the centre of the estate planning process by providing the following objectives:

Estate planning is complex. Overlooking or neglecting any aspect thereof can create problems in the future. To prevent this, Ascor® employees highly qualified planners who will ensure that your estate planning addresses your personal requirements, are updated regularly and comply with all legal and personal requirements.

Life Insurance

Unlike short term insurance, life insurance will at some point in time be useful – everyone dies, some early, others later. It is only in a tragic event that the benefits of these product will be seen.
Each person’s risks that need to be addressed and covered may vary depending on your circumstances.

• Death
• Capital disability

The different types of risks that can be addressed using an insurance policy include:

At Ascor® we can help you establish what risks you need to address to provide for the eventuality of an unplanned crisis. As we are Independent advisers, we can shop around among the various insurers for the cover that addresses your specific need.

The purpose of risk insurance can be to cover any of the following needs (risks):

• Temporary disability
• Impairment

• Income protection
• Severe illness
• Accident cover

• Provide for a monthly income for your loved ones when you’re no longer around (death)
• Settle any debts at death eg. bonds, car financing, credit cards, bank overdrafts etc.
• Provide for settling any debts should you become permanently disabled due to sickness or an accident
• Replace your monthly income should you become permanently disabled and can no longer earn a salary
• Provide a lump sum payout when diagnosed with a life threatening disease or suffering a heart attack.

Investment Planning

Investing your hard earned savings can be overwhelming. There are so many possible investment opportunities available to you, and sifting through the various options can be time consuming.
Investing your savings indiscriminately, could lead to permanent capital losses which could possibly never be recovered.

Ascor® will follow the correct investment approach and has already done this research on your behalf making the complex journey much simpler.
We apply a robust investment strategy that matches your future income and growth requirements with an investment portfolio that has a high probability of achieving the required results without taking unnecessary investment risks.

• Tax-free savings accounts
• Retirement annuities
• Establishing and managing of Group Risk and Pension Funds
• Facilitating the transfer of Pension and Provident funds to Preservation funds
• Discretionary investments
• Evaluation of current investment portfolios and making recommendations to re-structure
• General investment advice

Investment services offered by Ascor include:

The high cost of private healthcare makes being a member of a medical aid a necessity and not a luxury.

Medical Aid

Whether you are a private individual or an employer group, Ascor® can help you:

• Select the medical option that best suits your needs
• Understand and manage your benefits to your advantage
• Resolve claims disputes
• Optimize ancillary benefits such as wellness programs
• Keep up to date with changes in Medical Schemes

If you are already a member of a medical scheme, but need assistance to understand the benefits offered, or if you simply need to determine whether your current plan is the right one for you, Ascor® can assist you.

Medical Companies represented by Ascor® include:

• Discovery Health
• Medihelp

• Momentum Health
• Profmed
• Topmed

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Retirement Planning is important, start now!


Why is retirement planning important and why should you start now? Well thanks to advances in medical science, you should be planning for a much longer life in retirement and make sure that your savings can look after you during that time.
Unfortunately, most South Africans do not adequately prepare for retirement. By some estimates, only 6% of South Africans are financially prepared for retirement. Despite regular warnings to save for their future, people give many reasons for not saving yet. These include the high cost of living, the seemingly long time before retirement or simply that other expenses take precedence.
Unfortunately, old age creeps up on all of us and before you know it you are within a decade of retirement, when you will have all the time in the world, but no steady salary.
But if you are young, you have a potentially long time to do retirement planning. Consider using these steps to make sure that you are ready for a relaxing and truly enjoyable life after retirement.


  1. Invest in retirement annuities

    Retirement annuities (RA) are not an investment themselves, but rather a regulated way of investing for your retirement in different underlying funds. Stated differently, an RA is a way of investing your money that gives you certain benefits, because you are investing for your retirement.

    With a retirement annuity, you can contribute up to 27.5% of your taxable income to an RA and then deduct that payment from the income that you pay tax on. You can also withdraw up to R500 000 tax free when you reach 55 years or older.

    By investing in RAs, you not only save money for retirement, but you also save the tax that you would’ve paid on that money. This immediately gives your savings a boost.


  1. Invest in tax free savings

    Tax free savings accounts allow you to invest up to R30 000 per year and R500 000 in your lifetime in a savings account where the interest you earn is tax free.

    This form of saving not only gives you the additional growth equal to the tax that you save, but it is often invested off shore, giving you exposure to international growth as well.

    Try to get to your cap of R500 000 savings as soon as possible, but do not exceed your R30 000 annual allowance, otherwise you will pay penalties.

  2. Get help

    You simply have to Google retirement planning and investment advice to see how many different opinions and advice there are. This is not only confusing, but it does not consider your specific needs, retirement goals and the life stage that you are in.

    In contrast, a CERTIFIED FINANCIAL PLANNER® receives strict post-graduate training and he or she is governed by the professional and ethical rules of the Financial Planning Institute (FPI). This means that you can trust them to give you the best possible advice and guide you along each step.

    With your investments taken care off and possibly many more years to plan for retirement, you can rest assured that your golden years will indeed be, well, golden!

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