The Investec Retirement Annuity Fund ("the Fund") provides a tax-efficient way to save for retirement. Retirement annuities are used most often by people who do not belong to an employer’s retirement fund. However, many people also use them for additional retirement savings in respect of non-retirement funding income like investment income and rent.

Minimum investment	R50,000 lump sum with R10,000 ad hoc additions, or R1,000 per month debit order (R500 per month for iSelect).  Investments are tax deductible up to regulated maximums.
Withdrawal benefits	Subject to a few exceptions, no withdrawals prior to age 55. Benefits may be transferred to another retirement annuity fund.
Retirement benefit	From age 55, members may take up to a one-third lump sum in cash, which may be subject to tax, with any balance available for the purchase of a suitable annuity.
Death benefit	A lump sum, an annuity or a combination of both may be elected, subject to the rules of the Fund and any applicable tax.
Cessions	May not be ceded.

Within the Investec Retirement Annuity members can choose between iSelect, FundSelect and FundChoice, depending on the level of investment choice they need.