annuity income
If an employee becomes permanently disabled, he/she will need to take ill-health retirement from the fund and leave the fund. In doing so, the proceeds of the disability benefit will be lumped together with the retirement benefits and may be
Avoid using your salary increase as a reason to live a more expensive lifestyle. While you may be tempted to buy a more expensive car or live a more lavish lifestyle, consider the lost opportunity costs of not investing the
When retiring from a retirement fund, investors are required to use at least two-thirds of the fund proceeds to purchase an annuity. There are many factors that need to be taken into account when choosing the most appropriate annuity for
A significant advantage of a life annuity is that the policyholder is guaranteed an income for the rest of her life and will therefore never run out of money, regardless of what happens to investment markets or how long she
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.
From 1 March last year, provident funds are subject to the same rules at retirement as pension funds and retirement annuities, except whereas a provident fund member you were age 55 or older at that date and you remain a
A typical life annuity policy terminates on the death of the policyholder which means that it is not necessary for any beneficiaries to be appointed. Conversely, all capital housed in a living annuity when the policyholder dies can be distributed
Appropriately timing the sale of your primary residence is imperative, not least of all because the decision can be a hugely emotional one which can become more overwhelming with age. Further, if your retirement plan is dependent on some or
