retirement annuity
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
Taxpayers are required to declare their worldwide foreign income sourced from a foreign employer while working in South Africa and/or abroad, and, to facilitate this, SARS has included three new fields for foreign earners.
Legislation permits that the owner of a living annuity can draw down between 2.5% and 17.5% of the value of his living annuity every year, with the option to review the draw down rate at the living annuity’s anniversary. Investors
Before retiring, it is important to carefully assess your capital needs – both at the point of retirement and into the future. Remember, you are not permitted to make lump sum withdrawals from a life annuity or living annuity, so
A single-income family naturally faces greater risk when it comes to job loss or retrenchment, and it is important to put plans in place to mitigate the risk as much as possible. An emergency fund sufficient to cover at least
If you intend to retire from the fund and begin drawing down from your investments, keep in mind that your options are essentially the same as when retiring from a retirement annuity in that you have the option to commute
