By Dorothy Avvakoumides*
Ever feel like your retirement savings are scattered across too many places? One account here, another over there, and now your employer has their own fund too? You might be wondering: should you try to combine everything? Wouldn’t it be simpler to have one pot?
That instinct makes sense. But when it comes to retirement annuities (RAs) and employer pension or provident funds, merging them isn’t an option. And surprisingly, that’s a good thing.
Here’s why having both can actually work in your favour.
Separate tools for a shared goal
Think of your RA as your personal project – a savings plan you control, separate from your employer. It’s designed to help you build long-term wealth, and it stays with you no matter where you work.
Your employer’s retirement fund, on the other hand, is part of your employment package. They contribute alongside you, which helps your savings grow faster. But it’s linked to your job, so if you change employers, the rules and benefits might change too.
Different rules, different strengths
One reason you can’t transfer an RA into a company fund comes down to legislation. The law keeps them separate because they serve slightly different purposes and follow different tax rules. Trying to blend them would create confusion – not just for you, but for fund managers, administrators, and the tax system.
The good news? This separation protects you. It ensures your personal savings (in your RA) can’t be accessed too early or eroded by job changes. And your employer fund gives you the benefit of shared contributions while you’re working.
Make the most of both
Instead of trying to merge your accounts, focus on using them together, smartly. Here’s how:
1. Consolidate your RAs
If you have multiple retirement annuities from different providers, you may be able to combine them into one. This can cut admin, make it easier to track performance, and potentially lower fees.
2. Keep contributing to both
Yes, it’s allowed. You can contribute to your RA and your employer’s fund. Doing so can boost your overall retirement savings, and both contributions may offer tax benefits.
3. Diversify your exposure
Your RA and your employer fund may have different investment strategies. That’s not a bad thing. It means you’re not putting all your eggs in one basket. A mix of approaches can smooth out risk over time.
4. Get help with the big picture
A qualified financial advisor can help you see how your various savings work together. They’ll make sure you’re not overexposed in one area and help you align everything with your retirement goals.
Simple isn’t always better
It’s tempting to want one account, one number, one statement. But retirement planning isn’t one-size-fits-all. Having multiple savings vehicles might seem messy, but it gives you flexibility, control, and resilience.
So instead of fighting the system, work with it. Use your RA to build personal, portable savings. Use your employer’s fund to maximise current contributions. And together, let them power your path to a secure retirement.
Your future self will thank you.
*Dorothy Avvakoumides is an employee benefits consultant at Brenthurst Wealth Fourways.
I obtained my National Diploma in Financial Information Systems from the Cape Peninsula University of Technology in 1999 and have worked in the wealth management industry since January 2000. Over the years, I have gained extensive experience in various roles, including Portfolio Manager Assistant, Planner Assistant, and Paraplanner.
Esmarelda Isaacs-Andreas joined the Brenthurst Wealth Stellenbosch office in October 2025, taking on the dual role of Receptionist and Fiduciary Administrator.
Angelique Anderson joins our Pretoria office as an Administrative Assistant, bringing over 24 years of experience across the financial, legal, and executive support sectors, both locally and internationally. Her meticulous attention to detail, discretion, and extensive knowledge of asset finance and compliance make her an invaluable addition to our team.
Ashley joined Brenthurst Wealth in January 2025 as Office Administrative Assistant and Receptionist for the Stellenbosch Office.
Michelle joined the Brenthurst Wealth Team in 2025 as a paraplanner assisting Iniel Van Zyl and Leslie Greyling in our Fourways office.
René Heystek joined Brenthurst Wealth in November 2023, as receptionist and administrative assistant in the newly established George/Garden Route office.
Michelle Heystek has built a career in the financial services over the last two decades, after obtaining her B.Com degree in Financial Management in 2005. Once she joined Brenthurst in 2006, she continued her academic journey, obtaining her Certificate in Wealth Management from INSETA in 2007, followed by a Postgraduate Diploma in Financial Planning from the University of the Free State. In 2008, she earned the Certified Financial Planner (CFP®) designation.
Anelle joined Brenthurst Wealth as a Receptionist and Administrative Assistant to Brian Butchart in the Cape Town office in December 2023. She has a wealth of knowledge from working as a liaison between Financial Advisers and clients at TMA and Absa Investment Management Services (Aims) since 1998. She obtained her B. com degree from the University of Port Elizabeth in 1997.
Sanet was appointed in April 2020, joining our Cape Town team as an Executive Administration Assistant to Renee Eagar. She has been in the financial services industry since 1990. Her previous experience includes positions at Sanlam, BJM and ABSA. She spent her last 12 years working at Alexander Forbes Private Client Wealth as a Senior Wealth Management Assistant. She has received numerous accolades over the years which include but not limited to, Alexander Forbes Client Service Excellence – Silver award in 2014,2015 and 2017. Sanet has also obtained her Certificate in Wealth Management (NQF 5) in 2012 and achieved “Best Student of the Year” from Moonstone.
Maria Smit is a Certified Financial Planner® with over 10 years of experience in the financial planning industry.
