pension fund
As with all approved retirement funds, investors can save up to 27.5% of their taxable earnings into an approved retirement fund on a tax-deductible basis, up to the annual maximum of R350 000.
One of the most important factors when claiming a share of the member spouse’s pension interest is to ensure that the wording of the divorce order meets all the legal requirements to ensure that the fund administrator can action the
It is important to keep in mind that any funds invested in an approved retirement fund (such as your pension fund and retirement annuities) are subject to the limitations set out in Regulation 28 of the Pension Funds Act which
In a community of property marriage, all debt incurred by the spouses before and during the marriage forms part of the common estate, including maintenance obligations to a previous spouse or children from a previous relationship.
Take intentional steps to ensure that you have your own financial profile independent from your spouse’s. To achieve this, ensure that you have a well-managed bank account in your own name and at least one credit facility in your name,
Although the offshore limit has been increased to 45%, the reality is that 55% of your retirement fund capital must be invested in South African assets which, given the rate at which the number of listed companies on the JSE
A recent court ruling has found that capital held in a living annuity does not form part of the estate for the purposes of dividing assets on divorce. However, the future annuity stream can be used in determining the maintenance
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
