life annuity
The emotional impact of adult children emigrating from South Africa was brought starkly into the spotlight during last year’s hard lockdown where the plight of many isolated and lonely old people confined to retirement homes was noted. Many older people
To buffer against the risk of an early death, a guaranteed period life annuity provides for a pre-determined period (e.g. ten years) during which the insurer is obliged to continue paying the pensioner’s annuity income even if the pensioner dies
With there being over 1 000 unit trust funds for South African investors to choose from, multi-managers play an important role in researching and analysing all the funds offered by various assets managers and building portfolios from these to achieve
You are able to transfer your policy RA to a unit trust-linked RA, although this should be done with the considered advice of a financial adviser. Such a transfer will need to take place via Section 14 of the Pension
Traditional disability assurance is based on whether or not you are physically able to work. Occupational Disability assurance is generally divided into (a) own occupation, (b) own or similar occupation or (c) any occupation. These definitions will determine whether you
As retirement capital housed in an in-fund annuity is regulated by the Pension Funds Act, it is also important to note that the funds are subject to Regulation 28. In terms of these regulations, retirement funds are limited to certain
If you have a sentimental attachment to the family home and are considering holding on to it, be sure to understand the financial implications of doing so. As difficult as it may be, try to remove the emotions from the
In respect of a unit trust RA, you can stop contributing to your investment at any time without any fees or penalties. As there is no recoupment period as in the case of insurance RAs, you will not be penalised
An incorrectly drafted clause in the divorce order can result in the fund rejecting the settlement agreement and refusing to pay out the pension interest – which in turn would require the non-member spouse to bring a costly court application
When determining whether or not to withdraw any funds from your RA, you will need to take into account factors such as whether you have debt, the interest you are paying on that debt, any large capital expenses or large
