retirement planning
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
In respect of a unit trust RA, you can stop contributing to your investment at any time without any fees or penalties. As there is no recoupment period as in the case of insurance RAs, you will not be penalised
An incorrectly drafted clause in the divorce order can result in the fund rejecting the settlement agreement and refusing to pay out the pension interest – which in turn would require the non-member spouse to bring a costly court application
When determining whether or not to withdraw any funds from your RA, you will need to take into account factors such as whether you have debt, the interest you are paying on that debt, any large capital expenses or large
When it comes to money, controlling your emotions is more than just resisting the need for instant gratification. Making good economic decisions is highly dependent on us being able to control our emotions, including the psychological and cognitive biases that
As your teenagers get older, you will need to start planning for large expenses such as vehicles, tertiary education, overseas school or study opportunities, exchange programmes and even weddings.
Legislation permits you to switch your living annuity to a life annuity, but not vice versa. This is because a life annuity is an insurance policy which is purchased with the capital in your investments, and therefore cannot be moved
As your adult children become financially independent and your net wealth grows, you may find that you can reduce your life cover to a certain extent.
Despite the fact that you may have nominated a beneficiary (or beneficiaries) to your retirement fund, it remains the function of the trustees to allocate and apportion these funds.
