retirement fund
Many retirees hold onto the family home for sentimental reasons only to find themselves burdened with a large property, costly maintenance and upkeep which makes them feel overwhelmed, and an illiquid, risky asset. Moving home is always stressful, but particularly
Even once their adult children have their own homes and families, many retirees choose to hold on to the family home for sentimental reasons rather than downscaling to a more manageable-sized property. If the longer-term plan is to ultimately downscale
Even once their adult children have their own homes and families, many retirees choose to hold on to the family home for sentimental reasons rather than downscaling to a more manageable-sized property. If the longer-term plan is to ultimately downscale
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 terms of Section 37C, if the deceased has no financial dependants and his estate is solvent, the trustees must pay the nominees in the proportions in which they were nominated but only after a period of up to 12
When retiring from a provident preservation fund, you currently still have the flexibility to withdrawal anything up to 100% in cash with any remaining balancing being used to purchase an annuity to provide income.
If you decide to cash out your benefits, bear in mind that you will be taxed as per the withdrawal lump sum table. Further, keep in mind that by cashing out your money, you will effectively interrupt the compounding process
Your heirs are those people who stand to inherit the residue of your estate, which is whatever assets are left after all your debts, the cost of administration, and any legacies or special bequests have been distributed. When drafting your
If a couple is living together as ‘husband and wife’ but are not married, there is effectively no marriage capable of dissolution and there can be no transfer of pension interest benefit.
