FutureCash

FutureCash

The FutureCash Tax Savings and Retirement Plan is an investment vehicle to secure your financial future during your retirement years.

It is a safe and sound investment with expert investment management by RBC Investment Management (Caribbean) Limited and backed by the expertise and stability of RBC Royal Bank.

If you already have a pension plan, the FutureCash Tax Savings and Retirement Plan will enhance your retirement income.

If you do not have a pension plan, it is a wise investment for the future.

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The Future Cash Tax Savings and Retirement Plan is an ideal plan for anyone seeking financial security during their retirement years.

Your contributions are fully tax-deductible provided that the contributions, together with those of other approved pension plans, do not exceed TT$50,000 (less 70% of NIS contributions) per year.

Contributions

The minimum contribution is TT$100 or US$25 per month.
You can also make lump sum contributions of at least TT$500 or US$100. This is where you should invest bonuses and other lump sums you receive during the year.
The more you save, the more comfortable and secure your retirement will be.

How is my money invested?

Your money is invested in a portfolio of government and corporate bonds and money market instruments. The TTD and USD portfolios are separate portfolios with different levels of risk and returns.

Maturity Dates

The minimum age for maturity is one day past your 50th birthday.
The maximum age for maturity is your 70th birthday.

Options at Maturity

At maturity, the plan allows you to choose one of two options:

  • Option 1: You can take all the money you have contributed, plus all interest earned, to purchase an annuity from an insurance company of your choice. This will give you a monthly income at retirement for the rest of your life.
  • Option 2: You can take 25% of your contributions plus 100% of your interest as a tax-free lump sum. With the remaining 75% of the contributions, you can purchase an annuity from an insurance company of your choice, which would provide you with a monthly income for the rest of your life.

For whom is this plan geared?

Anyone seeking financial security for their retirement years should consider investing in Future Cash because you benefit from tax relief while also saving for your future.

If you already have a pension plan, Future Cash would enhance your retirement income.

If you do not have a pension plan, it is wise to invest in Future Cash to secure your financial future.

The minimum age requirement is 18 years old and the younger you start, the better your overall return would be.

How can I monitor the performance of the fund?

Quarterly Portfolio Summaries are published on our website and give you clear and detailed insight into the funds' historical performance, top 10 holdings and asset allocation. Click here for our most recent portfolio summary.

How do I get started?

Visit any branch of RBC Royal Bank. All you will need are:

  • Two forms of valid Identification
  • A recent utility bill (less than 3 months old)
  • Proof of your registered Board of Inland Revenue (BIR) number

 

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Tax savings

  • All contributions to Future Cash are tax-deductible, provided that they, together with those of other approved pension plans, do not exceed TT$50,000 (less 70% of NIS contributions) per year.
  • The interest earned is not taxed.
  • The lump sum payment (under Option 2) is not taxed

Solid Performance

The returns on Future Cash surpass that of traditional deposit instruments.

Diversification

The small investor has access to a diversified portfolio of quality investments.

No Upfront Fees or Commissions

Unlike other retirement savings products, there are no upfront fees or commissions. All of your contributions are invested into the fund.

Professional Management

Future Cash is managed by a team of professional investment managers with over 40 years experience and in excess of TT$20 billion in assets under management.

Monthly Interest

Interest is paid to your account monthly.

Affordable

Contributions can be as little as TT$100.00 or US$25.00 making it affordable to almost everyone.

Convenience

You can make regular subscriptions to your Roytrin mutual fund account by setting up a standing order at your branch or via our Online Banking and Mobile Banking platforms.

New Investment Features of our Online Banking & Mobile Banking platforms

We have upgraded our Online Banking and Mobile Banking platforms so that you can now do the following:

  • View all of your Roytrin accounts in a new category labelled “Investments”.
  • View the balances and transaction history of each of your Roytrin mutual fund accounts.
  • Make subscriptions to your Roytrin mutual fund accounts.
  • Set-up recurring and upcoming subscriptions to your Roytrin mutual fund accounts.

 

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Expand - How often would I receive statements of my account? How often would I receive statements of my account?

Expand - If I die, what would my beneficiaries receive? If I die, what would my beneficiaries receive?

Expand - What do I get as proof of my participation in this plan? What do I get as proof of my participation in this plan?

Expand - How and when would I adjust the tax that I pay every month? How and when would I adjust the tax that I pay every month?

Expand - Can I make withdrawals from this plan at any time? Can I make withdrawals from this plan at any time?

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