Starting a new job

Options when starting a new job

Starting a new job is a big change. You may need some help to make good decisions as you start your new job.

Two important retirement savings decisions

What to do with my retirement savings from my previous employer.

Find out more

To help you decide, find out more about your options

  • Watch this video to help you decide, or
  • Read this brochure to help you decide.

If you’d like to keep your retirement savings invested for your future self to reduce the risk of not having enough to live on after you retire, these are your options.

Keep your retirement savings invested for their real purpose - to provide you with income when you're no longer working. Avoid withdrawing cash from your savings when you change jobs.

Where can I find out how much I’ve saved with Alexforbes?

Sign up or log in to our website to get this information.

You can also visit the app store to download our app.

Once you understand your retirement savings options, you will need more information that's specific to your fund or employer's benefits

Your member booklet or benefit schedule has the details of the benefits and options that are specific to your employer or fund, including the following information:

  • Available investment portfolios
  • Percentages you can choose from to save for retirement every month (contribution rates)
  • Available insurance benefits

You can get your member booklet from your human resources department.

Find out more about your retirement savings options as you prepare to start your new job

For information that’s specific to your fund or employer’s benefits find out more


this video for more about your retirement savings options


your retirement fund welcome letter


this flyer to find out more about the importance of having a will and keeping your beneficiary nomination form updated

Is someone you know starting a new job?

Share this information with them. It will help them through the decisions they will need to make when it comes to their retirement savings and changing employers.

Being informed and knowing if you’re on track to meet your retirement savings goals are important steps you can take to improve your financial picture.

Explore your retirement picture in 7 fun steps.

My Retirement Picture

More about My Retirement Picture

  • In My Retirement Picture you can find out:
    • What pension you can expect when you retire.
    • If you will have enough to live on after you retire from your job.
    • Ways you can improve your retirement picture.
  • Who is My Retirement Picture for?
    • It’s for anybody at any age.
  • How much does it cost?
    • It doesn’t cost anything. Anybody can use it.
  • Build your personal retirement picture using this exciting new interactive and gamified tool.
  • Watch the introductory video about My Retirement Picture to find out more before you get started.
  • Give us feedback on My Retirement Picture.


Saving for emergencies

Saving for emergencies

If you had an emergency, would you have enough savings?

Find out more about being prepared for emergencies.

Reducing expenses

Reducing Expenses

Did you know that people who have a budget and stick to it have a better chance of reaching their goals?

Find out more about how to reduce your expenses and get started with a budget.

Being prepared

Being prepared

If the unexpected happened, like death or disability, would your financial needs or your family’s financial needs be taken care of?

Find out more on the ways you can be prepared.

Managing debt

Having more debt than you can afford can be stressful. If you’d like to have more control over your finances, read more here.

  • Read more about the difference between good debt and bad debt here.
  • Unplanned expenses sometimes lead to borrowing money even when you don’t want to. Find out more about being more financially prepared for emergencies here.
  • Find out more about being on top of your debt here.

Reaching your goals

Reaching your goals

Saving for goals means:

  • having a plan
  • managing priorities
  • getting your loved ones to help you stay on track with your plan

Watch this webinar about managing money to support you along the way to reaching your goals.

GET HELP! Speak to a licensed financial adviser on
0860 000 381 or email

Health challenges

Health challenges

These days we’re often thinking about health. Are you prepared for health challenges?

Find out more about how to choose the right medical aid for your budget.

Other useful information about your retirement fund

  • What’s a retirement fund?

    When you’re no longer earning a salary at the end of your working life, you can use your savings in your retirement fund to buy a pension that will give you regular income. Your employer has provided you with a provident or pension fund.

    How does a retirement fund work?

    • Every month, you, your employer or both make contributions to your fund.
    • These contributions are saved towards your retirement. You can use your retirement savings to buy a pension that will give you a regular income in retirement.

    How much your pension will be depends on:

    • how much you or your employer contribute during your working life
    • how investments have performed
    • whether you keep your retirement savings invested instead of taking them in cash when you change jobs
    • the cost of buying a pension when you retire
  • A benefit statement shows:

    • how much you’ve saved so far for retirement
    • the pension you can expect based on the information we have about you

    Here’s an explanation of your benefit statement.

    View your benefit statement by logging onto the Alexforbes website or by downloading the AF app on the Apple App Site or the Google Play Store.

  • The rules of your fund will tell you if you can make extra contributions to your retirement savings in addition to your monthly contributions. These are called ‘additional voluntary contributions’. It is very important to contribute as much as you can every month.

  • You can choose a contribution amount from the options that are provided in the rules of your fund. It is very important to contribute as much as you can every month. You can find out more about your contribution options in your member booklet (which you can get from your HR department).

  • If your fund offers more than one contribution option, then you can usually change the amount you are contributing to retirement once a year or more often, depending on your retirement fund rules. You can ask your HR department more about this option. Contributing more will give you a better chance of having enough to live on when you retire from your employer.

  • You can choose a contribution amount from the options that are provided in the rules of your fund. It is very important to contribute as much as you can every month. You can find out more about your contribution options in your member booklet (which you can get from your HR department).

  • Your employer might contribute an amount based on your pensionable salary, depending on the rules of your fund. Your pensionable salary (or fund salary) is the part of your salary that your retirement savings contributions are based on.

  • Yes. The costs of running and administering the retirement fund are taken from contributions. You can find the details of these costs in your member booklet.

  • If you’re a member of a defined benefit fund, investment performance doesn’t directly affect your retirement fund savings.

    Most members belong to defined contribution funds. In a defined contribution fund, the value of investments in your retirement fund’s investment portfolios do affect your retirement savings.

    Find out which type of fund you belong to by asking your HR representative or logging onto our website to check your statement.

    There are two main things that affect the value of an investment portfolio:

    1. Conditions in investment markets
      • Over shorter periods of time – days, weeks, months and sometimes even years, investments can decrease in value. Sometimes different types of investments all decrease in value at the same time.
      • Over longer periods of time, we expect the investments in your retirement savings portfolio to increase in value.
    2. How well the investment managers do
      • Alexforbes Investments chooses the investment managers that manage the money in your investment portfolio.
      • We choose the investment managers very carefully to make sure that they manage the money in retirement savings portfolios responsibly and professionally. We monitor these investment managers on an ongoing basis.
      • We also choose a mix of managers who we think will give your retirement portfolios the best chance of growing more than other portfolios.
      • Over shorter periods of time, retirement savings portfolios may not do as well as other portfolios. This is because we choose and mix investment managers based on what we believe, based on our research, will be best over longer periods of time.
    • A single investment manager is a manager of investments (asset classes).
    • A multi-manager is a manager of investment managers.

    Multi-managers don’t actually buy and sell asset classes, but rather manage the investment managers, who do this on their behalf. Ultimately, multi-managers blend the best assets to give the most appropriate investment management solution. To achieve this they:

    • Assess a fund’s investment needs.
    • Match these investment needs with a combination of single managers to meet them.
    • Monitor the investment managers to make sure they deliver the required performance.

    A good multi-manager combines the services of selected single managers based on their proven ability in individual areas of expertise, depending on the fund’s particular investment requirements.

  • Knowing if you’re on track is an important first step to reaching your goals. Use our fun gamified tool to build your retirement picture and find out if you’re on track and what you can do if you’re not on track.

Contact us


Questions about a claim or processes:
Client Contact Centre: 0860 100 333 |

Understanding your options or help making a decision based on your personal circumstances (advice):
My Money Matters Centre: 0860 000 381 |