ConCourt judgment in Capitec vs SARS clarifies important VAT principles

The decision addresses the recovery of VAT on payments made under loan cover provided free of charge.

Fund members must understand the implications of annuity choices, says FAIS Ombud

The restrictions on accessing funds within a life annuity should be made clear.

Current high annuity rates are a ‘rare rescue package’ for living annuitants

The Actuarial Society of South Africa (ASSA) has issued a second communication in as many weeks advising retirees to consider guaranteed annuities as part of their planning for retirement income.

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.

Beneficiary nomination updates and crypto assets in a will

New trends call for new requirements. Help your clients to fulfil their wishes when the time comes.

How a tax-free savings account can maximise your retirement income

A tax-free savings account (TFSA) can help retirement fund members who bought living annuities to reduce their marginal tax rate, hence maximising their after-tax income, says Paul Hutchinson, a sales manager in Ninety […]

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 […]

Living Annuity Statistics

The August ASISA Dispatches provided the following information on Living Annuities. The 2016 Living Annuities Survey statistics were finalised in August. The survey showed that living annuity policyholders withdrew on average 6.62% of […]