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Impress your Financial planner with these definations.
Impress your Financial planner with these definations.

Safe gurd yourself with these important definations, you might need them when you meet with your financial planner to set up your retirement fund.


Reduction in a Yield (RIY) the amount by which the annual returns on your savings will be reduced

Average RIY the total RIY of all members of a retirement fund divided by number of members

Charge ratio percentage of rand amount by which costs will reduce your retirement savings. It is also known as reduction maturity.

Umbrella retirement fund an umbrella a retirement fund is made up of number of sub funds. Each sub fund in a financial service sector umbrella a fund is a separate participating employer

Net replacement ratio the percentage by which you can expect your pension to replace your final salary. Most retirement funds seek to provide you with a pension 75 to 80 percent   NRR of your salary.




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