Helping you save for your future
Retirement may be far away, or it may be closer. Either way, the choices you make now, will shape how comfortable you and your family will be, when you stop working. That is why your retirement savings are so important.
As a retirement fund member, you are already taking the first step – saving while you work. Every month, your contributions go into your retirement fund. Your fund helps you grow wealth during your working years, ensuring that you and your family will have an income when you stop working. Keep contributing and let your money grow over time. Remember that the longer you save, the more your money benefits from compound interest.
Your retirement fund is here to help you build a better tomorrow.
Normal retirement age is 63.
You can apply for early retirement from age 55.
The retirement funds within HEINEKEN Beverages
All permanent HEINEKEN Beverages employees in South Africa belong to the Alexforbes Retirement Fund. Within this Fund, there are three groups. You belong to one of these groups. The Fund is managed with care, to protect and grow your money as well as provide valuable retirement and insurance benefits.
- You must belong to one of these three groups.
- You may not switch between groups.
HBSA
For members who previously belonged to the HEINEKEN South Africa Fund.
All new employees must join the HBSA Fund.
HBSA (ex-Distell)
For members who previously belonged to the AFRF Distell Fund.
HBSA (ex-DPF)
For members who previously belonged to the Distell Provident Fund.
What happens to your contributions?
HBSA (married members)
You contribute 21% of your pensionable salary.
HBSA (unmarried members)
You contribute 21% of your pensionable salary.
HBSA (ex-Distell)
Based on the default contribution of 17.75% of your pensionable salary.
HBSA (ex-DPF)
Based on the default contribution of 19.25% of your pensionable salary.
Understanding the two-pot system
The two-pot system began on 1 September 2024. It gives you limited access to your money while you are still working, but also protects your savings for retirement. This change was made because many members are struggling financially and end up with too little saved for retirement. In the past, some members would change jobs just to take money from their retirement savings.
This system gives you some access to your money during your working years, while also protecting your savings for retirement.
Taking money out early makes your retirement savings smaller — think carefully before you withdraw.
Your retirement savings are managed in three pots:
Your savings pot
One third of your contributions go into your savings pot. If you have a financial emergency while you are still working, you can withdraw money from your savings pot. But remember, taking money from your savings pot now means less income for you and your family when you retire.
Your retirement pot
Two thirds of your contributions go into your retirement pot. You may not withdraw money from this pot until you retire. This ensures that you keep building up your long-term savings.
Your vested pot
If you were 55 years or older on 1 March 2021, you could choose to join the new two-pot system. If you did not join, your existing savings stayed in a vested pot with the same withdrawal rules. Only a few members are affected, and most have automatically moved into the two-pot system.
The magic of compound interest
Compound interest means that your money earns growth, and then that growth also earns growth. Over time, your retirement savings get larger and larger. The earlier you start saving, the more powerful the magic of compound interest is.
One of the best ways to grow your money is to save it and let it earn compound interest. This means you don’t just earn interest on the money you put in — you also earn interest on the interest that has already built up.
The longer you keep your money invested, the faster it grows. Over time, this creates a “snowball effect” — small savings today can become much larger amounts in the future.
- Year 1: Your savings earn interest.
- Year 2: You earn interest on your savings and on the interest from Year 1.
- Year 3: You earn interest on your savings and on the interest from Year 1 and Year 2.
This cycle keeps repeating — which is why starting early and leaving your money invested makes such a big difference.
You must register on AF Connect
AF Connect is your online member portal. Register on AF connect to make withdrawals from your savings pot, track your claims, access your benefits statement, update your beneficiaries, and much more.
- This allows you to apply to withdraw money from your savings pot.
- You can check your investment balances.
- Keep your beneficiaries up-to-date.
Register today so you can always see how your money is working for you.
Go to AF Connect
Financial advice
For FREE financial advice, contact the
Alexforbes Individual Advice Centre (IAC):
- 0860 100 444
Fund-related queries
For fund-related queries, please contact
Alexforbes My Money Matters:
- 0860 000 381