LISP Expense, Annuity & Regular Withdrawal dates

The following serves to remind you of important dates for 2012.

MONTHLY EXPENSE RUN SCHEDULE

The monthly expense run refers to the process where STANLIB and Financial Adviser fees are deducted from LISP investment accounts.  This run takes place on the 10th of the month. In the event of the 10th being a weekend or public holiday, the expense run will take place on the following business day. Withdrawal and switch requests received during the monthly expense run or will only be processed once the run has been priced up. This will generally add up to 2 business days to the above service levels. 

The monthly expense run for 2012 takes place as indicated in the table below.

ANNUITY SCHEDULE

An annuity refers to the income a client receives on a regular basis when invested in a Classic Linked Life annuity product. The monthly annuity run takes place as indicated in the table below. In the event of the annuity run being on a weekend or public holiday, the annuity run will take place on the following business day.

Please note: payment will be made into the client’s bank account by the 1st of the following month.

REGULAR WITHDRAWAL OPTION SCHEDULE

A regular withdrawal option refers to a regular income a client can elect to receive when invested in the Classic Investment Plan. A complete and correct regular withdrawal instruction received by STANLIB head office on or before the 14th day of the month will entitle the Client to receive his regular income payment by the 1st day of the following month.

If the instruction is received on or after the 15th day of the month, the Client will receive his first income payment on the 1st day of the month after that. For example: a withdrawal received on the 12th of January, the Client will receive his income on the 1st February.  If the withdrawal instruction is received on the 17th of January, the Client will receive his income on the 1st March.