pension fund
Generally speaking, you may not make additional contributions to your preservation fund except if the money originates from another retirement fund. Also, if you have been awarded a share of your ex-spouse’s pension interest in terms of Section 7(8) of
Putting enough money away for a comfortable retirement is a daunting task and, while we all know that starting early is critical, the numbers are alarming. Statistics from the 2021 10X South African Retirement Reality Report which has just been
Many forward-thinking companies are experimenting with what is referred to as a phased or transitioned retirement. As opposed to a sudden departure at formal retirement age, companies are allowing older employees to slowly reduce their working hours and to transition
As a mother to young children, these years may find you time-poor and cash-strapped as you juggle career and motherhood while at the same time paying off your home loan and vehicles. Convenience spending is likely to increase during this
While South Africans enjoy freedom of testation, this freedom has a number of limitations, with Section 37 being one of them. The Act makes it clear that the member’s Will or beneficiary nomination cannot override the provisions of Section 37C,
A life annuity, which is an insurance-based product designed to provide a guaranteed monthly income until the death of the annuitant, is in effect a life policy and, as such, comes to an end on the death of the policyholder.
You have a number of options regarding your severance benefits, and what you do with this money largely depends on your personal circumstances. If you are likely to need the money in the short term, rather put your cash in
If you are dependent on generating some form of income in your retirement years, it is wise to consider your prospects of re-entering the workforce if your ideas for earning income don’t come to fruition. If there’s even a remote
Delaying your planned retirement by even five years will affect your investment horizon, your draw down timeline, and subsequently the level of risk you are able to take in your investment strategy. If you’re working towards a delayed retirement, ensure
