Retirement

Retirement Annuities | Preserver | Living Annuities

Retirement Annuities

This product allows you to invest regular premiums and lump sum deposits to build capital for your retirement. With this investment, you can take advantage of the generous tax concessions available to retirement funds in South Africa. The retirement annuity provides a base for your retirement capital.

A Retirement Annuity is an exceptionally tax-efficient investment that can assist in providing you with an income when you retire.​

The current tax benefits of this investment include:

Contributions to a Retirement Annuity are tax-deductible up to certain limits.

Income and capital gains of the underlying portfolios are untaxed. This saving in tax translates into higher investment returns for the investor, which compound over time

A third of your investment is available as a cash lump sum on retirement, and depending on the amount in your retirement annuity and other retirement benefits you may have received all or a portion of that lump sum is tax-free. The balance will be taxed at flat tax rates depending on the amount.

At retirement, a compulsory two-thirds must be used to purchase an annuity. This amount is transferred free of tax to the annuity. The regular amount from the annuity will be taxed as income.

Preservers

Lump sum retirement product used to preserve capital from Pension or Provident Funds when changing jobs

Living Annuities

A post retirement product used for matured RA’s, Preservers, Pension and Provident Funds. An income in provided based on your needs.