Secondary

Tag Archives | Living 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 […]

Continue Reading
stats

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 their capital as income in 2016, which represents a marginal increase on the 6.44% living annuity drawdown rate recorded for 2015. In […]

Continue Reading
SA Corona Virus Online Portal Logo
CLICK HERE FOR MORE INFORMATION