Retirement Funds

Because employees may be living longer, encouraging the right retirement savings behaviours can dramatically reduce their retirement savings gap. That’s why Discovery Retirement Funds* drive positive savings behaviour by motivating employees to save more, save for longer, and manage their finances. Discovery is then able to reward their behaviour by adding boosts to their savings, further helping them to close their retirement savings gap.

Discovery’s solutions can be tailored to the unique needs of a business. The employer can choose between a standard or customised package and employees make their own choices about retirement contributions and investment portfolios.

Powerful behavioural incentives

Discovery boosts the retirement savings employees transfer into the Fund by up to 15% to encourage them to stay invested and consolidate their savings when they join or leave the Fund.

Discovery also boosts contributions by up to 15%, including additional voluntary contributions that employees make to the Fund each month. The boost is related to employees’ engagement in the various Vitality programmes and meeting their Active Rewards goals.

Discovery’s payback from risk premiums, which can be up to 15%, reward employees for improving their health. To help employees accumulate the extra retirement savings, Discovery doubles the payback amount that they reinvest into the Fund.

The Discovery Living Annuity gives employees the flexibility to manage their income withdrawals (drawdowns) according to their individual circumstances, while giving an immediate income boost of up to 50% for responsible withdrawal levels and healthy living.

*Discovery Retirement Funds (the Fund) refer to the Discovery Life Pension Umbrella Fund and Discovery Life Provident Umbrella Fund. All boosts are offered through the insurer, Discovery Life Limited and only apply to investments in qualifying Discovery funds if held until the retirement date. Early retirement, withdrawals or switches out of qualifying funds will affect the boosts. Discovery Life Limited, registration number 1966/003901/06, is a registered long-term insurer and an authorised financial services and registered credit provider, NCR Reg No NCRCP3555. Discovery Health (Pty) Ltd, registration number 1997/013480/07, is an authorised financial services provider and administrator of medical schemes. Discovery Vitality (Pty) Ltd is an authorised financial services provider, registration number 1999/007736/07. Discovery Life Investment Services Pty (Ltd), registration number 2007/005969/07, branded as Discovery Invest, is an authorised financial services provider. Limits, product rules, terms and conditions apply.

Blue Mercury Financial Services – we help individuals and companies assess their existing cover and choose the most appropriate services.

How can we help you?

Contact us at the Blue Mercury financial Services office nearest to you or submit an enquiry online.

I was so scared to change my insurance from my previous broker, but I can honestly say that your staff from Blue Mercury really made Discovery look amazing. Always responsive, never an automated call to get the day by, and really made me feel like “your client”. Thank you for the Hospitality!

Eduan De Villiers Roos


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