Stash Tax-Free Investment Disclosure Statement

This is a tax-free investment specifically designed for your long-term savings goals. It is an endowment policy underwritten by Liberty Group Limited, a registered long-term insurer and an authorised financial services provider (no. 2409).
You must consider the features, benefits and risks of the Stash Tax-free Investment (Stash) so that you can be sure that it will meet your needs and expectations. You must review regularly whether Stash remains appropriate.

Your money is invested in South Africa’s biggest companies

Your initial investment will be invested in the South Africa’s Biggest Companies portfolio on your first day. This portfolio consists of shares in South Africa’s Biggest Companies. All future investments (your Round Ups) will be also invested in this portfolio. ┬áThe investment returns of South Africa’s Biggest Companies are not guaranteed. Their value can go up and down significantly over short time periods. You may get back less than you invest.
You need to be aware that past performance is not an indication of future performance and most investments need to be held for the long term to achieve a return.
You also need to compare your investment’s growth to inflation so that, over time, you can buy the same amount (or more) of goods that you could with what you originally invested.

There are no charges or commission

The industry calls this the Effective Annual Cost. The Effective Annual Cost of the investment is zero. Here’s a table we’re obliged to show you detailing the impact of zero fees on your investment:

Impact

In one year

Over three years

Over five years

Effective Annual Cost

Zero

Zero

Zero

Charges can be reviewed from time to time. Charges reduce the growth of your investment.
All investment returns (including dividends, interest and capital gains) are tax free. Tax benefits depend on individual circumstances and may change in the future.

There’s a limit to how much you can stash

Currently, you can put up to R33,000 per tax year (and R500,000 over your lifetime) into tax-free investments.
We’ll make sure you don’t invest more than these limits in Stash, but if you have other tax-free investments, it’s up to you to make sure that you don’t breach the annual and lifetime limits overall. If you do, you’ll need to pay a 40% penalty to SARS on the amount you go over by.

Cash out whenever you want

There are no restrictions and no early termination penalties deducted for early withdrawal. Note that if you cash out and re-invest the same amount, it will count towards your R33,000 annual and R500,000 life time investment limits.

You can complain

We take customer satisfaction seriously which is why you should complain if, for any reason, you’re unhappy.
If you are unhappy, email us at help@stash.co.za or call Liberty on 0860 456 789.


Liberty Customer Relations Department

011 408 3316
relations@liberty.co.za

The Group Internal Adjudicator

011 408 1270
internaladjudicator@liberty.co.za

 

011 408 3911
group.compliance2@liberty.co.za

The FAIS Ombud

012 762 5000
012 470 9080
info@faisombud.co.za

The Ombudsman for Long Term Insurance

021 657 5000
0860 103 236
info@ombud.co.za

The Registrar for Long Term Insurance

012 428 8000
info@fsb.co.za

Replacing an existing financial product

It may not be in your best interest to cancel or change an existing financial product to apply for another financial product. If you are advised to do so, your financial adviser must inform you of the financial implications and the impact of the change on your benefits. This depends on your circumstances and also the products in question.

Changing your mind

You have the right to cancel the investment by written notice to us, within a period of 30 calendar days of receiving your investment summary.
The amount that you will receive is equal to your investments less any market losses, any applicable charges incurred until the date we receive your instruction. Interest or any investment growth will not be paid to you. However, you may not cancel the Stash Tax-free Investment if you have made a withdrawal during the cooling-off period.

Remember

The information provided here is based on our understanding of current law, practice and taxation which may be subject to change.
Liberty will let you know if legislation, procedures and charges change.
Liberty will also let you know if it needs to delay the processing of transactions (including cashing out). This will happen is Liberty can’t trade in the underlying assets for any reason. Liberty also reserves the right to delay the processing of any transactions, including payments of any benefits where normal trading in the underlying assets has been impeded or is subjected to liquidity constraints as a result of prevailing market conditions or as a result of circumstances applicable specifically to us which could render any transaction or payment of benefits punitive or uneconomic for you or us. Liberty will notify you if any such delay should arise.
Liberty may decide to close this product if it becomes economically unviable to administer. If this happens you will need to transfer your investment to another provider. Liberty will let you know at least thirty days in advance should this happen.
Full details of the legally binding contract between you and Liberty are in the Terms and Conditions. Where discrepancies exist between this disclosure statement and the Terms and Conditions, the Terms and Conditions apply.