pension fund
Because the aim of a living annuity is to provide the policyholder with a regular income throughout retirement, limits are placed on the level at which investors can draw down from their investment. As it currently stands, investors can select
Cohabiting couples do not have a right to claim a share of the member spouse’s pension interest. The right to claim a share of the member spouse’s pension interest is legislated in terms of the Divorce Act of 1979 and,
Retiring from your retirement funds marks the transition from saving towards retirement to drawing from your capital and pitching your draw down rate at the right level at the outset is critical. The 4% rule, which has its critics, assumes
A retirement at age 55 means that you still have a potentially long-term investment horizon and, as such, you will need to ensure that you are invested appropriately for this time period. You will need to ensure that your investment
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
Start your career the right way: by spending less than you earn and saving the rest. Before your first pay cheque lands in your account, prepare a budget taking into account any new line items as a result of your
You are not able to appoint beneficiaries to your unit trust investments as, in the event of your death, the proceeds will fall within your estate and will be distributed in accordance with your wishes. Keep in mind that the
If you are awarded a share in your spouse’s pension interest as part of your divorce settlement, it is imperative to get sound financial advice in this regard. There are a number of options available to you, all of which
Your severance package is separate from your retrenchment benefit (retirement fund benefits) and includes the one week’s pay for every year worked and all other monies owing by your employer as a consequence of your employment. From a tax perspective,
On the downside, investing in a Regulation 28 compliant fund means that 70% of your assets must be invested in South African assets which, given the rate at which the number of listed companies on the JSE has shrunk over
