retirement fund
Except in the case of ill-health or emigration, investors can only retire from a retirement annuity from age 55 onwards, although they are entitled to stop contributing towards their RA at any stage without fear of early termination fees or
Unless otherwise agreed upon, keep your joint financial affairs private and work hard to protect that privacy. Discussing your financial affairs with friends and family may be perceived as an open invitation for them to become involved in your finances,
One of the most significant advantages of a preservation fund is that you are permitted to make one full or partial withdrawal from the fund before age 55. If there is a likelihood that you may need access to your
While the general view is that trust property does not form part of the spouse’s estate for the purposes of determining the value of a divorce order, there are circumstances in which the courts will look through the veneer of
In theory, your bank accounts should be frozen in the event of your death. However, in practice, there is generally a delay between your death and the appointment of your executor whose job it is to notify your financial institutions
Upon the death of the member, the RA fund trustees are required to undertake an investigation to identify the dependants and nominees of the deceased, decide on an equitable distribution amongst those identified, and determine how the payment should be
The wealth accumulation phase generally requires more robust and strategic financial planning as you intentionally work towards achieving financial freedom. With higher levels of income and a well-crafted financial plan, your financial goals should feel within reach, and you should
Single retirees also present a special set of estate planning requirements which retired couples do not face, specifically when it comes to distributing their wealth after death. While most couples tend to bequeath their respective estates to each other, single
As a function of ageing, death becomes more pervasive as retirees get older. Experiencing friends and acquaintances falling ill and dying is depressing, morbid and sad – and this can lead to what is referred to as death anxiety. The
While there is no legislated retirement age in South Africa, keep in mind that many employers have a pre-determined retirement age at which point employees are required to retire from the company. Where the employer sponsors a retirement fund, such
