Lifestyle Financial Planning
Further, it is important to bear in mind that, while a member’s beneficiary nominations are taken into account by the trustees of the fund, it is the trustees who make the ultimate decision regarding distribution of the death benefits.
If you have a loved one who is mentally and/or physically incapable of managing his affairs, our common law makes it possible to approach the High Court for the appointment of a Curator Bonis, although keep in mind that the
Note that if your employer contributes to your retirement fund, their final contribution only needs to be paid by the seventh day of the following month in which you retire. Once the contribution reflects, which could take a couple of
During the course of your first meeting, your advisor should provide you with a disclosure letter that, amongst other things, sets out exactly how she will earn her fees and what you can expect in terms of costs going forward.
Before retiring, it is important to carefully assess your capital needs – both at the point of retirement and into the future. Remember, you are not permitted to make lump sum withdrawals from a life annuity or living annuity, so
Working closely with other key stakeholders such as SARB and National Treasury, CIPC plans to have the register ready soon and believes that it will greatly assist in the prevention of abuse of corporate vehicles. Further, these steps will help
A single-income family naturally faces greater risk when it comes to job loss or retrenchment, and it is important to put plans in place to mitigate the risk as much as possible. An emergency fund sufficient to cover at least
Once you have converted your retirement funds into a life annuity, living annuity or a combination of the two, keep in mind that you will not be able to make lump sum withdrawals and it is, therefore, important to plan
If the primary residence is owned by the first-dying spouse, the surviving spouse may find herself without accommodation if the deceased bequeaths the property to a third party. Joint financial planning is very difficult where a couple is married without
If you intend to retire from the fund and begin drawing down from your investments, keep in mind that your options are essentially the same as when retiring from a retirement annuity in that you have the option to commute
