Return to: PO Box 1, Sanlamhof, 7532, South Africa Our reference: 15793000X9 F001 19 September 2019 Mr R.A.P. Dayaram 87 Varsity Drive Reservoir Hills 4091 Dear Mr Dayaram Your retirement plan is maturing on 1 November 2019 Fund name CENTRAL RETIREMENT ANNUITY FUND Plan number 15793000X9 You have trusted us for the last 23 years by diligently contributing to this retirement plan. We thank you for trusting us with your savings and for your continued loyalty! This plan was taken out by the CENTRAL RETIREMENT ANNUITY FUND ("the Fund") and will mature on 1 November 2019 with an illustrative benefit of R138 017.28. This means you will need to make a decision whether to extend your term(s) and continue to grow your retirement savings or to annuitise (begin drawing an income). In order for you to select an option we provide all the necessary forms and explain in detail the information required in the attachments. This document aims to help you understand your options at retirement, in order for you to make a choice that will help you to enjoy your retirement. 2/... 2 Mr R.A.P. Dayaram 19 September 2019 15793000X9 1. Continue to grow your retirement savings and retire later If you do not need the cash now and want to benefit from further investment growth and tax savings, you have the attractive opportunity to extend the term of your retirement plan. The following options are also available. • Sanlam New Generation Cumulus Echo Retirement Annuity: You can now convert your old generation plan into a flagship Cumulous Echo plan. This will not incur any termination charges at the point of conversion, and will allow you to access leading asset managers and a wide variety of unit trust portfolios. For more information you can click on the link below to directly access the website or you can enter it into your internet browser to go to site. http://sanl.am/sanlamra • Glacier by Sanlam: Glacier brings together leading experts and respected financial services companies to meet its clients' financial needs. In order to conduct a transfer to a Glacier product you might incur termination charges. Please see the additional material attached. For more information you can click on the link below to directly access the website or you can enter it into your internet browser to go to site. http://sanl.am/glacierretirementincome Should you wish to make use of this option, please complete sections 2, 5 and 6 of this form. Sanlam members like you have the benefit of automatic continuation, which allows you to continue saving towards retirement, as you have done up until now. If you are currently making premium contributions into your retirement plan you have the choice to continue with your current contributions, or to increase the amount of your contributions. Many of our members choose this option in order to benefit from additional growth on their investment. If we do not hear from you within six weeks from retirement date then we will automatically take care of the automatic continuation for you. 2. Start receiving a regular pension income From your investment history we can tell that your financial security is important to you. Since your plan is now maturing, you have the choice to start receiving a regular pension income by purchasing an annuity with your retirement savings. Please note that, you may take up to one-third of your savings in cash. The balance of your investment however, must be used to purchase an annuity, to provide you with a monthly income. For your convenience, we have included more information about our pension options available to you in the appended retirement maturity option form. Should you wish to make use of this option, please complete sections 3, 5 and 6 of this form. 3/... 3 Mr R.A.P. Dayaram 19 September 2019 15793000X9 To take advantage of these opportunities, please complete the applicable sections and send it to us as soon as possible. If you require any assistance, please contact your adviser who normally provides you with advice. Note: If we have not received a completed option form or heard from you by six weeks after retirement date, your plan will continue automatically and we will reinvest your maturity value in the Guaranteed Capital Fund (GCF). We have chosen the GCF on your behalf since it is guaranteed not to decline in value. However, the GCF is a money-market fund and is therefore not appropriate for long-term investments. The Guaranteed Capital Fund is not an appropriate investment option for long-term investments. We encourage you to revisit your investment options and fund choices every year. You have the opportunity to switch your investment to a selected range of investment funds. If we should realise that you do not respond because of contact details that have not been updated, you would still enjoy the advantage of the automatic continuation. We shall take all possible steps reasonably required to locate you according to the "Standard on Unclaimed Assets" prescribed by Asisa, as available on the website www.asisa.org.za. We shall take the necessary steps to locate you within 6 months, after 3 years and after 10 years from the contractual retirement date. Any direct administrative costs and tracing fees will be recovered from the proceeds. These costs and fees will be disclosed if a payment occurs. We strongly suggest that you fully understand how a replacement would affect your ability to meet your personal financial objectives. Among the potential implications of a replacement, the following need to be taken into account: • The financial objectives you aimed to achieve by initially taking out this plan, might not be achieved. • Risk benefits might be reduced or completely cancelled (if applicable). • Costs might be applicable. • Tax benefits might be lost. Mr Dayaram, we thank you for the last 23 years and look forward to continuing our relationship with you. Yours sincerely Sonja Sanders Head: Client Experience: Sanlam Personal Finance 15793000X9 09092019 F001 DAYRA010 19092019 Die inligting sal nooit druk nie Maturity and Reinvestment form How do I complete this form? To ensure that the processing of your form is as fast and efficient as possible, please note the following: 1. 2. 3. 4. 5. 6. 7. 8. 9. Consider all your options carefully before making a final decision: you only have one chance to make this choice and it cannot be changed later on. If you require assistance, contact your intermediary or the Client Care Centre on 0860 726 526. Complete this form in full - since we cannot process incomplete forms. For option 1, please complete sections 2, 5 and 6. For option 2, please complete sections 3, 5 and 6. For an alternative annuity provider, please complete section 4, 5 and 6. Ensure that all relevant sections are signed by the authorised signatories. Where relevant, please mark your selections with an "X". Please attach a copy of your Identity document or passport (for foreign residents). How do I submit this form? 1. 2. 3. Email your completed form to: life@sanlam.co.za or, Fax your completed form to: (021) 947 9440 or, Contact your intermediary, or our Client Care Centre on 0860 726 526. Your options at maturity The decision that you make is extremely important as it affects your ability to maximise your retirement income. 2/... Reference: 15793000X9 FP Section 1 Retirement benefit on 1 November 2019 for CENTRAL RETIREMENT ANNUITY FUND Plan number 15793000X9 Gross illustrative benefit R Market adjustments 138 017.28 R *Termination Outstanding charge contributions R n.a. R 0.00 0.00 Nett illustrative benefit R 138 017.28 Gross illustrative benefit This benefit is the fund value of the underlying investment fund(s). In the case of the Reversionary Bonus Series, the benefit already includes a termination charge. Determining of retirement date According to the fund rules, the retirement date will be determined on the date that you provide the Fund with the completed and signed sections of this form. Once you have provided the Fund with the completed form, the retirement date cannot be changed. Your contributions are invested in a market-related portfolio which means that the benefit is influenced by fluctuating investment conditions. The actual retirement benefit will be recalculated at retirement, and may therefore be higher or lower than the illustrative benefit. The actual retirement benefit will be calculated taking into account investment conditions up to a few days prior to the retirement date to enable us to pay the benefit on, or as close as possible to the retirement date. Market adjustments This refers to the adjustment to the fund benefit to reflect the market value of the underlying assets in the Stable and Reversionary Bonus portfolios. *Termination charge The termination charge includes an alteration charge and/or transaction charge, if applicable. The purpose of these are: • Transaction charge: covers the expense of the termination; and/or • Alteration charge: partly recovers the loss, resulting from the termination, of future plan charges which are required to pay for the initial expenses incurred on the plan. 3/... Reference: 15793000X9 FP Section 2 Option 1: Extend your term Should you not require the cash right away, and would like to further maximise your retirement income, you have the convenient option to extend your plan term with further contributions. To get the maximum value from their investments, many of our members prefer this option. Please indicate the amount below if you would like to start making regular contributions. Minimum requirement for further contributions If you choose to continue the plan with further contributions, the contributions must be at least R150 per month, or R1 800 per year, according to Sanlam's current minimum requirement. Contribution amount R Note: • You may still qualify for the tax benefit. • Payments are deductible according to the Income Tax Act to a determined limit of taxable income. How much is deductible will depend on your own circumstances. Please complete the following sections: • Bank details for contributions. • Details of the intermediary who provided advice. • Please sign the Member Declaration. 2.1 Bank details for contributions after the extention of the term According to the Pension Funds Act, Section 37A, the benefit that a member is entitled to, may only be paid to the member unless the member can submit proof that he or she is unable to open a bank account. Account holder Name of bank Name of branch Account number 6-digit branch code Type of account: Cheque Savings Transmission Must the arrear contributions (if applicable) be collected additionally with the first new contributions withdrawal? Yes No Signed at (town or city) Bank account holder signature (Compulsory if payer differs from owner) Date 4/... Reference: 15793000X9 FP Section 3 Option 2: Start receiving a regular pension income • An annuity is an investment that provides you with a regular monthly income for the rest of your life through your retirement. • It is important that you make the decision that will best meet your needs for a retirement income. You can purchase a life annuity with your full benefit: • You can purchase an annuity with your full benefit. According to law, a pension/life annuity must be purchased with at least two thirds of your accumulated benefit. • You must also determine whether you desire a "fund pension" or a "private pension". 3.1 Your Sanlam pension options You have a number of convenient basic pension options available to you, each of which allows you to generate an income for your retirement. When choosing an annuity, it is important for you to consider your expected expenses during your retirement. This will allow you to choose an option that will maximise your retirement income and ensure that you can cover your expenses. Please indicate the range in which your current expenses fall. This should provide a rough indication of your retirement expenses, and thus of your required monthly income: • R0 - R10 000 per month • R20 000 - R30 000 per month • R40 000 - R50 000 per month • R10 000 - R20 000 per month • R30 000 - R40 000 per month • More than R50 000 per month Assumptions The pension amounts quoted are calculated according to the pension tariff on the date of this letter and are therefore only for illustrative purposes and not guaranteed. The actual pension amounts will be recalculated according to the pension tariff applicable on the date on which we receive your request together with all the requirements. This means that the amount could differ and even be lower than the illustrative amount. • All pension payments are payable at the end of the month. • Pension payments are taxable, however we have not deducted any tax. • Cooling-off periods are not applicable. 5/... Reference: 15793000X9 FP Please choose one of the "Fund proposed pension options" or one of the "Additional pension options" below with an "X" to indicate your choice: Fund proposed pension options • • Full pension with growth *R662.98 per month Invest your full benefit of R138 017.28 in an annuity which generates an income that grows at the rate of inflation each year • • • Lump sum and pension with growth *R437.00 per month Take one-third (R46 005.76) of your benefit in cash Invest two-thirds of your benefit (R92 011.52) in an annuity which generates an income that grows at the rate of inflation each year * The amounts above are before the deduction of income tax. These pension options indicated above are "Fund-proposed annuity options" approved by the Board of Trustees in line with Regulation 39 of the Pension Funds Act and the Rules of the CENTRAL RETIREMENT ANNUITY FUND. The Board of Trustees has made this pension option available for members who would like to receive a pension from their retirement date but are unable to make a choice regarding an annuity product to provide them with income during retirement. The Fund-proposed annuity option is a life annuity purchased from Sanlam Life. Please note the following aspects about the Fundproposed annuity option: • The plan is a Sanlam Life guaranteed annuity and guarantees to provide pension for the rest of your natural life; • Pension increases in line with inflation each year and not affected by any market movements; • Pension payments will decrease if there is deflation (rate of inflation from one year to the next is negative); • Pension is guaranteed for a period of 10 years from inception date of the plan. On earlier death, your pension will continue to be paid to your selected beneficiaries until the end of the 10 year period; • It is not a suitable pension option if you are suffering from a severe medical condition; • It is not a suitable option if you want to provide for a lifelong pension to a spouse upon your death; • The purchase decision cannot be changed or reversed; • The pension cannot be transferred to a different pension provider at a later stage; • With this option no commission is payable; and • The life annuity issued with this option will automatically be fund owned. For more information on the different income options, please refer to the Retirement Fund Bulletin on the Sanlam website. You can click on the link below to directly access the website or you can enter it into your internet browser. https://www.sanlam.co.za/retirementfunds/Pages/member-information.aspx 6/... Reference: 15793000X9 FP It is highly recommended that you approach a Sanlam financial advisor or accredited broker for advice on the best pension option that suits your individual financial needs. Additional pension options • • • • • Full pension with growth *R532.92 per month • Invest your full benefit of R138 017.28 • in an annuity which generates an income that grows at 7.0% each year Full pension without growth *R1 108.78 per month Invest your full benefit of R138 017.28 in an annuity which generates an income that does not grow at all each year Lump sum and pension with growth *R349.81 per month Take one-third (R46 005.76) of your benefit in cash Invest two-thirds of your benefit (R92 011.52) in an annuity which generates an income that grows at 7.0% each year Lump sum and pension without growth *R733.23 per month Take one-third (R46 005.76) of your benefit in cash Invest two-thirds of your benefit (R92 011.52) in an annuity which generates an income that does not grow at all each year • • • * The amounts above are before the deduction of income tax. If you select one of the "Additional pension options" above then you must indicate below if it must be a "Fund Pension" or a "Private Pension". I choose the following option for the compulsory life annuity: (please tick the appropriate block) Fund pension The Fund remains the owner of the compulsory life annuity. At your death the Board of Trustees will determine how the remaining pension instalments (if any) must be divided between your dependant(s) and nominee(s). Private pension You become the owner of the compulsory life annuity. At your death the remaining pension instalments (if any) will be paid to the nominee(s) as appointed by you. The quotations have been prepared with the following assumptions: • The pension payments are guaranteed for 10 years. Thereafter it is payable until your death. • Each of the alternative pension payments indicated, has been calculated on the assumption that commission of 1.5% of the respective purchase sums is paid to the intermediary who provides you with advice (if applicable). This equates to respective commission amounts of R2 070.26 (for the full pension option) and R1 380.17 (for the lump sum and pension option). Please note that with the fundproposed annuity option (Inflation linked life annuity) commission is not applicable as there is no commission payable. Joint Life Pension The investment amount is used for the purchase of a pension which provides an income payment until the death of the last surviving life insured. Depending on the choice of product, the income payment could reduce to a smaller amount at the death of the first life insured or it could remain the same. In addition the income payment could be guaranteed for a minimum term. 7/... Reference: 15793000X9 FP Capital Protection Option: Whole Life (Plan 27) The investment amount (refer to the purchase amount) is used for the purchase of a pension. Part of the pension provides either a guaranteed level or an annually increasing (at the chosen percentage) income for life. The remaining funds a plan that guarantees that the full purchase amount is paid on the death of the life insured. Inflation Linked Income with Capital Preservation (Plan 29) The investment amount (refer to the purchase amount) is used for the purchase of a pension. Part of the pension provides an income that increases annually with inflation (CPI) and is guaranteed for life. The remainder funds a plan that guarantees that the full purchase amount is paid on the death of the life insured. The following annuity options are also available at Glacier by Sanlam: The Glacier Investment-Linked Living Annuity (ILLA) The Investment-Linked Living Annuity is a flexible investment product that provides you with a regular income during your retirement while allowing your savings to grow. The Glacier Investment-Linked Lifetime Income Plan (ILLI) With the Investment-Linked Lifetime Income Plan, you have the certainty of a regular, sustainable income for life. One that has the potential to grow in line with market returns. A combination of both the ILLA and the ILLI Many retirees may benefit by combining the above products, thereby getting income for life together with the flexibility and potential capital growth provided by ILLA. Speak to your adviser about using the ILLI (to cover your day-to-day expenses) in combination with the ILLA, which could allow for capital growth, and for leaving behind a legacy for your loved ones. Option 3: Receive the benefit as a lump sum in cash • You have the option to receive the benefit as a lump sum in cash. Receiving your benefit as a cash lump sum at retirement may seem like a very attractive option to take. • However please be aware that this may not be in the best interest of your financial future. 3.2 Bank details for the lump sum and/or the pension payments According to the Pension Funds Act, Section 37A, the benefit that a member is entitled to, may only be paid to the member unless the member can submit proof that he or she is unable to open a bank account. Account holder Name of bank Name of branch Account number 6-digit branch code Type of account: Cheque Savings Transmission Signed at (town or city) Bank account holder signature (Compulsory if payer differs from owner) Date 8/... Reference: 15793000X9 FP Tax details • • • • Payment can only be made after we have requested and received a tax directive from the South African Revenue Service (SARS) therefore please ensure that we have your tax reference number and annual income. It is in your best interest to ensure that you have no outstanding tax obligations. Sanlam has a responsibility to ensure that SARS recover any tax in arrears and/or provisional tax from the benefit prior to us making the payment to you. We will recover the administration penalty, tax in arrears and/or provisional tax, if applicable, in full from the payment amount. Once a directive has been issued by SARS, we are not allowed to cancel the directive as per the SARS instruction. If you need to know what your tax situation is prior to retiring, you have the option of requesting a Simulation of your tax directive, prior to making your final payment selection. Please contact the Client Care Centre for more information. Please verify and complete your tax details. It is important that your personal details, for example identity number, on Sanlam's record correspond with the details at SARS. If not, it will delay the finalising of your request as SARS will be unable to provide us with the necessary tax directive. In order to enable us to verify your details, such as identity number/tax reference number, with SARS when requesting the necessary tax directive, please provide us with a copy of your latest tax assessment (IT34) on which these details are reflected. *Tax reference number (compulsory) (10 digits starting with 0, 1, 2 or 3) Current annual income (compulsory) R Country of permanent residence (compulsory) Country in which you reside for tax purposes (compulsory) Have you ever received a tax rebate in Namibia for the Retirement Annuity? (compulsory) Yes No *Tax reference number • If you are not yet registered as a taxpayer, please do so before completing this form. Name of member Raj A.P. Dayaram Signature Date 9/... Reference: 15793000X9 FP Appointment of a nominee for the life annuity It is important to appoint a nominee as this will assist Sanlam in determining to who any outstanding pension amount should be paid to in the event of your death. Please complete this section only if you do have a nominee you want to place on the life annuity. If you should die before the end of the guaranteed term, Sanlam will pay the outstanding pension available to the following nominee(s) if there are no other dependants. Title, full names and surname Postal address Postal/Zip code Residential address Postal/Zip code Contact numbers International dialing code Area code Number Home Work Fax (home) Fax (work) Cell E-mail address Identity number/Passport number (compulsory: passport number is ONLY for foreign residents) Date of birth (ddmmccyy) If passport number what is the country of issue? Passport expiry date (ddmmccyy) 10/... Reference: 15793000X9 FP Please take note of the conditions • • • • Your appointment of nominee(s) will only be valid if Sanlam receives the signed form before your death. You can change the nominee(s) at any stage by handing in a newly signed form at a Sanlam Life office. You can appoint more than one nominee. Please supply all the above-mentioned particulars of each nominee on a separate page. Your appointment of a nominee does not compel the trustees to pay the benefit to the nominee(s). They will take your wishes into account when deciding about the distribution of the benefit between nominee(s) and dependants. Important Your choice cannot be changed later. We therefore suggest that you contact your intermediary to assist you in making this important decision. Should you receive advice from a Sanlam intermediary, he or she must complete an advice record and submit it together with your option. By concluding this transaction on your own you acknowledge that you have done so on your own accord and not based on the advice of a Sanlam intermediary. This quote is valid for 30 days. 11/... Reference: 15793000X9 FP Section 4 Alternative annuity providers Although often considered less convenient for our members, you can elect to purchase an annuity through another registered insurer. Please complete the section below, and supply the required documents, should you wish to transfer your benefit to another registered insurer: • • • Please contact your intermediary to assist you with the completion of the relevant application form. A copy of the completed application form must be attached to this submission. All details below need to be completed in full. Name of registered long-term insurer FSCA registered insurer number Contact person Contact number Contact e-mail address New plan number Bank details of insurer: Account holder name Bank name Account number Branch name Branch code 4.1 Bank details for the lump sum in cash According to the Pension Funds Act, Section 37A, the benefit that a member is entitled to, may only be paid to the member unless the member can submit proof that he or she is unable to open a bank account. Account holder Name of bank Name of branch Account number 6-digit branch code Type of account: Cheque Savings Transmission Signed at (town or city) Bank account holder signature (Compulsory if payer differs from owner) Date 12/... Reference: 15793000X9 FP Tax details • • • • Payment can only be made after we have requested and received a tax directive from the South African Revenue Service (SARS) therefore please ensure that we have your tax reference number and annual income. It is in your best interest to ensure that you have no outstanding tax obligations. Sanlam has a responsibility to ensure that SARS recover any tax in arrears and/or provisional tax from the benefit prior to us making the payment to you. We will recover the administration penalty, tax in arrears and/or provisional tax, if applicable, in full from the payment amount. Once a directive has been issued by SARS, we are not allowed to cancel the directive as per the SARS instruction. If you need to know what your tax situation is prior to retiring, you have the option of requesting a Simulation of your tax directive, prior to making your final payment selection. Please contact the Client Care Centre for more information. Please verify and complete your tax details. It is important that your personal details, for example identity number, on Sanlam's record correspond with the details at SARS. If not, it will delay the finalising of your request as SARS will be unable to provide us with the necessary tax directive. In order to enable us to verify your details, such as identity number/tax reference number, with SARS when requesting the necessary tax directive, please provide us with a copy of your latest tax assessment (IT34) on which these details are reflected. *Tax reference number (compulsory) (10 digits starting with 0, 1, 2 or 3) Current annual income (compulsory) R Country of permanent residence (compulsory) Country in which you reside for tax purposes (compulsory) Have you ever received a tax rebate in Namibia for the Retirement Annuity? (compulsory) Yes No *Tax reference number • If you are not yet registered as a taxpayer, please do so before completing this form. For SARS directive purposes the above information is compulsory else the retirement benefit cannot be paid. A copy of the completed Living Annuity/ Life Annuity application form must accompany this request. Full pension option Use the full benefit to provide me with a pension. Lump sum and pension option Access a lump sum, and use the balance to purchase an annuity and provide me with a pension. 13/... Reference: 15793000X9 FP Section 5 Personal details of the Member Existing information Postal address Updated information 87 Varsity Drive 4091 Reservoir Hills Postal/Zip code 4091 Residential address Postal/Zip code Contact numbers (Home) (031) 2622471 (Work) (031) 2612237 (Cell) 0845166934 Email address rajdayaram@bigpond.com Identity number 6312295117082 Passport number Passport Country of issue Expiry date (ddmmccyy) Tax reference number If you are a permanent resident of a country other than the RSA, please state The country of which you are a permanent resident at present Date of departure from the RSA Did you emigrate from the RSA? Yes No Date of emigration 14/... Reference: 15793000X9 FP Banking details for emigrants State the name and address of the SA bank that dealt with your financial affairs when you left the RSA. Account number Name of SA Bank Address of SA Bank No advice received Important: Your choice cannot be changed at a later stage. We therefore suggest that you contact your intermediary to assist you in making this important decision. I declare that by concluding this transaction on my own I acknowledge that I have done so on my own accord and not based on the advice of a Sanlam accredited intermediary. Member's signature I received advice Please complete the details of the intermediary who provided you with advice. Full name(s) and surname Intermediary code PRI/BIBlife code (if applicable) Contact details *(Home) *Fax (home) *(Work) *Fax (work) *Cell Should you receive advice from a Sanlam intermediary, he/she must complete an advice record and submit it together with your completed option form. Note to intermediary: Kindly note that the advice documents are to be sent to your Sanlam consultant/gatekeeper or that an indication must be given in this form that the FAIS documents have been checked. Note: In order to comply with FAIS regulations, a quotation and an application form are compulsory when: • Commission/fees are payable (Intermediary's details and commission/fees will then be completed manually on the option letter) and/or • An adviser or broker gave advice for other/different investment funds than the Guaranteed Capital Fund as printed in the option letter. (Other investment funds will then be completed manually on the option letter.) • Please note that with the fund-proposed annuity option (Inflation linked life annuity) commission is not applicable as there is no commission payable. 15/... Reference: 15793000X9 FP Section 6 Terms and conditions • If we do not hear from you, or if your choice does not reach us in time, your retirement benefit will automatically be invested in our Guaranteed Capital Fund for capital growth without further contributions. To confirm the continuation, you will receive a new contract document for safe keeping and future references. • You may change into another investment fund at any time after your retirement date. The transfer will be applicable from the date on which the request is received. • The Guaranteed Capital Fund consists of South African investments in short-term interest-bearing securities and cash. The capital value on an investment in this fund is guaranteed never to decrease in monetary value. It will increase with bonuses that are regularly added. The bonus rate can fluctuate depending on the level of short-term interest rates. • The following charges will be applicable if the plan is continued in the Guaranteed Capital Fund: (These charges are applicable on 9 September 2019 and may change from time to time) • A plan charge, currently R12.00 per month. This will increase in future to allow for inflation. • A yearly administration charge which consist of the following: • A fixed administration charge, currently 1.25% of the fund value. We take this charge into account when we calculate the daily unit price of the investment fund. • A variable administration charge that is a percentage of the fund value. This charge changes as the fund value increases to higher fund value bands. The variable administration charge is currently 0.30% per year of the fund value for the first R500 000.00 and 0.00% of the fund value in excess of R500 000.00. • The Guaranteed Capital Fund is not an appropriate investment option for long-term investments. We encourage you to revisit your investment options and fund choices every year. You have the opportunity to switch your investment to a selected range of investment funds. • If we should realize that you do not respond because of contact details that have not been updated, you would still enjoy the advantage of the automatic continuation. We shall take all possible steps reasonably required to locate you according to the "Standard on Unclaimed Assets" prescribed by ASISA, as available on the website www.asisa.co.za. We shall take the necessary steps to locate you within 6 months, after 3 years and after 10 years from the contractual retirement date. Any direct administrative costs and tracing fees will be recovered from the proceeds. These costs and fees will be disclosed if a payment occurs. 16/... Reference: 15793000X9 FP Member Declaration Important: Your choice cannot be changed later. We therefore suggest that you contact your intermediary to assist you in making this important decision. By concluding this transaction on your own you acknowledge that you have done so on your own accord and not based on the advice of a Sanlam intermediary. Full Name(s) and surname Please acknowledge your agreement with the following: • I fully understand all my options available to me at maturity. • I understand that my decision will have an impact on my retirement lifestyle and income. • All the information provided by me in this document is correct to the best of my knowledge and I declare that I understand the implication of my choice. • If relevant to my election in this form, I confirm that: - The conversion to a private pension takes place at my request, responsibility and risk. - I understand that my membership to the CENTRAL RETIREMENT ANNUITY FUND ceases as soon as the conversion is finalized and that the fund will have no further obligation towards me. - I exempt the CENTRAL RETIREMENT ANNUITY FUND of any liability for loss or disadvantage that my dependant(s) or I may suffer after the conversion. - I will make sure that the conversion is not to my disadvantage, financially or otherwise. Signed at (town or city) Your signature Date