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Tag Archives | Annuity

New Sars conditions on buying an annuity at retirement

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 18. BGR 58 provides that an annuity must be compulsory, non-commutable, payable for and based on the lifetime of the retiring member […]

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wealth

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 decline, coupled with uncertainty and the lowering of the repo rate, led to some serious concerns for investors. Now is not a […]

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