retirement fund
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.
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
If you’re suffering from a terminal illness, planning for your end-of-life medical care will no doubt be important for you. An advance healthcare directive is a comprehensive document that allows you to make decisions about your medical care and to
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
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
Further, it is important to bear in mind that, while a member’s beneficiary nominations are taken into account by the trustees of the fund, it is the trustees who make the ultimate decision regarding distribution of the death benefits.
Note that if your employer contributes to your retirement fund, their final contribution only needs to be paid by the seventh day of the following month in which you retire. Once the contribution reflects, which could take a couple of
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
