SRAF

Retirement Annuity

The SAMRO Retirement Annuity Fund was established in 1969 for members of SAMRO.

The SAMRO Retirement Annuity Fund (SRAF) is a separate legal entity, registered with the Financial Sector Conduct Authority (FSCA). It is administered by a specialist retirement fund administrator, (Robson Savage (Pty) Ltd).

Non-contributory (Additional Voluntary Contributions permitted)

Benefits are payable if a member passes away, if they reach retirement age (from 55 years old), or if they suffer an illness that leads to incapacity. While the Board is granted a 12-month period to investigate and identify dependants, it is in the best interest of beneficiaries to report a death as soon as possible to ensure a timely distribution.

Eligible for elected SAMRO composer members

RETIREMENT ANNUITY

What is the Retirement Annuity Fund?

Who qualifies?

Membership to the SAMRO Retirement Annuity Fund is automatically granted to all individuals who have been accepted as members of SAMRO by the Board of Directors.

Contributions

SAMRO makes an annual contribution to the Fund on behalf of every member who earned royalties in a particular year. Members are not required to contribute. Members who wish to save more can make Additional Voluntary Contributions (AVCs) using the Voluntary contribution form below. All contributions are invested to accumulate retirement capital for each member.

When can a member claim their retirement fund?

Members may retire from age 55. There is no maximum age: members may join, or remain in, the Fund beyond age 75. If you are approaching retirement, please contact SAMRO for your options and the claims procedure.
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The Two-Pot Retirement System
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Since 1 September 2024, retirement savings are divided into components. Please read this overview before accessing your benefits on the Robson Savage portal.

‍Savings Component: [one-third] of new contributions. You may make [one] withdrawal per tax year, of at least R2,000. Withdrawals are taxed at your marginal rate and reduce your retirement savings.

‍Retirement Component: [two-thirds] of new contributions. This is preserved until retirement and cannot be accessed early.

‍Vested Component: benefits accumulated before 1 September 2024 [are subject to the Fund rules]. Withdrawing from your Savings Component now means a smaller retirement benefit later. This is a general overview and not financial advice. Please contact SAMRO or Robson Savage for details specific to your benefit.

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