Sanlam Glacier Retirement Annuity Review 2022

Sanlam Glacier Retirement Annuit

The Sanlam Glacier Retirement Annuity has protected wealth for a large number of South Africans and is demonstrating that it will continue to do so for the future generation. This is one of the most popular retirement annuity packages available in South Africa. This is because the plan’s returns have improved year after year. Glacier is a subsidiary of Sanlam Ltd and acts as a broker for Sanlam’s retirement products. Sanlam’s retirement investments are available through Glacier or Sanlam’s Cumulus Echo.

Your investment strategy will be determined by how you wish to structure your finances now and in retirement. The benefits of the Sanlam’s Glacier Retirement Annuity extend beyond your donations. These include access to one of the best retirement planning experts in South Africa and the ability to take advantage of certain tax benefits associated with retirement annuities.

Sanlam Glacier Retirement Annuity Summary 

Sanlam’s Glacier Retirement Annuity is a flexible retirement annuity that provides clients with access to a diverse selection of well-researched and well-known investment options. To invest in the Glacier Retirement Annuity, you must make a minimum lump sum commitment of R100,000.00 and a monthly contribution of R1000.00. If you do not wish to contribute a big sum, you can begin contributing as little as R2500.00 or as much as R15000.00 for adhoc investments.

After you’ve made your contribution, you may choose from a variety of underlying investment possibilities and instruct Glacier on when and how to invest your money. The Sanlam Glacier Retirement Annuity offers investment alternatives managed by reputable collective management companies with exposure to a variety of asset classes. Investments can be made through the purchase of stock in a publicly traded company, mutual funds, or savings.

Who should invest in Glacier Retirement Annuity? 

Glacier Retirement Annuity lays out the type of investor that qualifies in investing in this annuity. When investing in to the Glacier Retirement Annuity, you need to appreciate that:

  1. You are investing for a long period and in some cases for a lifetime. By investing in the Glacier Retirement Annuity you will only have access to your retirement annuity when you reach the age of 55.
  1. Risk comes with every investment so you must appreciate it. Your capital can be affected by unexpected market behaviour as a result crippling your investment. However, history has proven time and again that retirement funds tend to generate positive results over time more often than not
  1. Inflation is a risk that comes with investing. Your capital investment’s purchasing power is swallowed by inflation each year. However, Glacier aims to ensure that your capital is well invested in inflation-beating funds at all times. 

How Glacier Retirement Annuity works

Glacier Retirement Annuity is an open investment source for retirement. You get to choose to contribute a lump sum or make monthly instalments towards your retirement.

When contributing to your investment, you will have to choose the fund that you want your contributions to be invested in. With the help of a financial advisor, you will be able to make an investment decision that suits your retirement needs

Upon retirement, that is any age that you have chosen, which should be at 55 years or above, you will receive 33.33% of the value of your savings as a lump sum.

The remaining 66.67% of your retirement savings will be invested in one of the two Glacier living income annuities of your choice, and the proceeds from the investment will then be given to you as regular income.

What happens when you die? 

Death is an inevitable event that one can face at any time. Should you die before the retirement age of 55:

  • Your dependents may benefit from the money that you have invested. 
  • The board of trustees will take into account your wishes and all your dependents’ needs when you die. 
  • Benefits are either going to be paid as a lump sum or transferred to a post-retirement product from Glacier to provide regular income to your beneficiaries. 

Tax benefits 

Sanlam Glacier Retirement Annuit

When investing in annuities, you would expect your investment handlers to take advantage of the tax benefits that are available for retirement annuities, of which Glacier does so well.

When investing in Glacier Investment Annuity you get the following benefits:

  • At retirement, there is no tax charged on the amount that is transferred to the post-retirement product that provides you with an income during retirement. 
  • There is no Capital Gains Tax to your annuity investment. 
  • You don’t have to pay tax on any interest earned or dividends issued. 

Taxation is a very sensitive issue when investing for retirement; this is because every single cent in proceeds from investment matters. So Glacier makes it a point that they take advantage of the tax benefits available for retirement annuities in South Africa. 

Investment options from Glacier Retirement Annuity 

Through the Glacier Retirement Annuity, you get to have your money invested in some of the best investment options available. You can have your money invested in local and offshore funds, risk profiled investment funds, ETFs and other instruments via the Glacier stockbroking service. 

Competitive Advantages of the Glacier Retirement Annuity

  • You benefit from tax deductions based on your contributions. 
  • Have the flexibility to pause and resume payments when your financial circumstances change. 
  • Should you become permanently disabled before the age of 55 your benefit is paid out the same way you would have received it at 55 years.
  • You can move your retirement savings to another company without incurring any penalties. 
  • When you retire your investment will further generate living annuities. 

Competitive Disadvantages of the Glacier Retirement Annuity

  • The minimum monthly contribution is higher when compared to those of competing companies such as Discovery which has contributions starting from R500.00.
  • You need to wait for the retirement age to access your money even when you no longer earn an income. 


Glacier Retirement Annuity is a very thoughtful retirement package that seeks to provide consistent income for its members at retirement.

When you retire, two-thirds of your income-generating product is invested in either the Glacier investment-linked living annuity or lifetime income plan, which generates a life long income for members. 

The Glacier Retirement Annuity is a step ahead of most of its competitors. The retirement product has shaken the annuity investment market in South Africa through its offering. For a solid retirement investment, Glacier retirements annuity is simply one of the best options there is in the republic. 

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