Yes. Thankfully you can.
There are a few simple steps to follow to transfer your RA from your current provider to EasyEquities.
It is important to note that the RA transfer to EasyEquities can only be a cash transfer (not a unit transfer), which means you cannot transfer your existing investments (units) within your RA. You would need to liquidate your investments (units) in the RA and then transfer the cash. Your current provider may levy fees for the transfer so please check with them first.
It is also important to note that the transfer process can take quite a few weeks to complete, depending on your current provider. As soon as we receive instruction from them, we will notify you accordingly.
You cannot transfer your Living Annuity to EasyEquities, only your RA.
To transfer your RA to EasyEquities, please follow the steps below:
1. You first need to activate your EasyEquities RA and accept the T&Cs.
3. To know what to enter into the termination letter, contact your current RA provider and request their appropriate email address for RA Transfers. We have provided the requirements for some of the RA Providers below
4. If your current provider accepts the letter then the transfer will initiate, otherwise the current provider will reply to the mail with a form that will need to be filled out.
5. In completing this form, you may be required to enter the information specified below:
Transferee fund name: EasyEquities Retirement Annuity Fund
Transferee fund registration number: 12/8/38189
Transferee fund rule number: 19
Name of insurer/administrator: D&D The Cycle
Contact person: Daniel Clifford
6. Email the completed form to your current RA provider and cc EasyEquities on RA@easyequities.co.za.
7. If you haven’t done so already, you will need to activate your RA account on EasyEquities by selecting the RA account and then accepting the terms and conditions.
While we have worked very hard at ensuring the process is as efficient as possible and will follow up on the transfer continually, we are somewhat at the mercy of the providers handing your investment over to us and as such it can take a good deal longer than expected.
We will keep you updated as much as possible during the transfer.
RA Provider Transfer Out Requirements:
Letter of intent (to transfer) with account details
Send to email@example.com
086 0000 654
Send to firstname.lastname@example.org
080 022 1177
Send to email@example.com
011 529 2888
Call 086 046 8378 and request info specific to your RA.
086 066 4321