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Tag Archives | annuities

robust-retirement

The importance of a robust retirement plan

Now is a good time for retirees to secure a guaranteed income for life. According to retirement income specialist Just, if your retirement savings were invested in balanced funds through the market turmoil of 2020, it is currently possible to secure a guaranteed income for life that is more than 15% higher than it would […]

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pension

Temporary relief for pensioners with living annuities – Pros and cons to consider

“…we have expanded access to living annuity funds by allowing (the) individual to adjust the proportion they receive as an annuity income, instead of waiting up to one year until their next contract anniversary date,” Minister of Finance Mr Tito Mboweni remarked at the media briefing to outline the R500 billion economic support package. According to […]

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Tax

Provident Fund Annuitisation Legislation

National Treasury has confirmed that the 2016 Revenue Laws Amendment Act, promulgated on 20 May 2016, qualifies provident fund members for a tax deduction on their own contributions ‘without being required to annuitise for the next two years’. According to an accompanying media statement, the release of a paper on comprehensive social security is expected […]

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Annuities

Living or Guaranteed Annuity?

Patrick Cairns of Moneyweb recently published an article on this question which is particularly relevant in the current climate of expected interest rate increases. Q: I retired last year and invested my capital amount in an investment-linked living annuity. I am however considering moving to a guaranteed annuity option to lessen the risk and stress. […]

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