Retirement Planning
Trying to guess how long you will live is a dangerous game to play when developing your retirement plan, and our advice is to develop a range of retirement scenarios using varying longevity assumptions so that you have a clear
Tax planning is an important part of your overall estate plan, and it’s important to factor in the various taxes that your estate may be liable for. Keep in mind that your death will trigger a capital gain meaning that,
Investors are permitted to take out as many retirement annuities as they like. However, the tax benefit is calculated in aggregate and not in respect of each retirement annuity. Similarly, the tax-free portion at retirement may only be claimed once.
As an individual investor, you are free to construct a portfolio that is fully customised to your needs although you will be limited by the provisions of Regulation 28 as mentioned above. This piece of legislation is designed to protect
Tax-free savings accounts can take the form of money market or fixed-term bank accounts, a unit trust investment or a JSE-listed exchange-traded fund, and can be issued by banks, long-term insurers, unit trust managers, mutual banks, or cooperative banks.
Except in the case of ill-health or emigration, investors can only retire from a retirement annuity from age 55 onwards, although they are entitled to stop contributing towards their RA at any stage without fear of early termination fees or
Taxpayers are afforded several ways to reduce their tax liabilities, and it is advisable to employ these mechanisms to your benefit. Leaving ‘free money’ on the table doesn’t make financial sense so be sure that tax planning forms part of
One of the most significant advantages of a preservation fund is that you are permitted to make one full or partial withdrawal from the fund before age 55. If there is a likelihood that you may need access to your
Upon the death of the member, the RA fund trustees are required to undertake an investigation to identify the dependants and nominees of the deceased, decide on an equitable distribution amongst those identified, and determine how the payment should be
It’s easier to remain motivated and positive if you’re working towards a clear set of goals, so take time to get specific about your retirement goals. Avoid framing your retirement objectives in broad strokes such as ‘to live comfortably’, ‘to
