Applying excess retirement contributions: implications for lump sums, annuities, and estates
Allan Gray’s Carla Rossouw clarifies excess contributions in relation to deduction limits, annuity income taxation, and the treatment of benefits at death.
Annuity
Excess retirement contributions: when they help – and when they hurt
Converting discretionary savings into retirement vehicles can cut tax on living annuity drawdowns – but may reduce long-term value.
Settlement clarifies interplay between disclosure and suitability in annuity advice
A settlement facilitated by the FAIS Ombud highlights that full disclosure of product terms does not, on its own, satisfy suitability obligations under the Code of Conduct.
Ombud case highlights risk of mismatched annuity advice and implementation
Consumers must understand product terms and ensure documentation accurately reflects agreed guarantees and beneficiaries.
Considering annuity options if inflation surges during retirement
Coronation looks at whether a life or a living annuity is more likely to protect a retiree’s income if we enter a high-inflation environment.
Retirement funds and death benefits: what options do beneficiaries have?
There is a major difference between pre-retirement and post-retirement funds regarding the nomination and payment of beneficiaries.
Two pots: good news about tax on lump-sum withdrawals at retirement
National Treasury resolves the conflict between the draft legislation and the explanatory memorandum.
Guaranteed annuity is the better option for most retirees, says Actuarial Society
Pensioners are sacrificing the certainty of a lifetime guaranteed income in the hope that some capital will remain for a loved one when they die.
Latest proposals on how the two-pot retirement system will work
A guide to the features of the three components: savings, retirement, and vested.
New Sars conditions on buying an annuity at retirement
The SA Revenue Service (Sars) has issued Binding General Ruling 58, which sets out the approvals by the Sars Commissioner when purchasing an annuity at retirement. This follows the withdrawal of General Notice […]
Record demand for life annuity solutions – Need for security tops potential returns
Covid-19 has certainly changed the thinking about life annuities significantly. Guaranteed products fell from grace during the time of positive returns, with living annuities making up the bulk of sales. The strong market […]
