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Retirement Planning

Retirement Planning

Retirement Provision (Saving for retirement) Retirement (Investing at retirement) Early retirement from Retirement Annuity Withdrawal from Retirement Annuity

Retirement Provision (Saving for retirement)

It is very worrying if you look at recent statistics gathered by one of the bigger insurance companies in South Africa. The statistics indicate that a mere 6 % of South Africans retires financially independent. The remaining 94 % of South Africans are dependant on relatives, are forced to keep on working or are dependant on the government. A new generation retirement annuity (RA) is probably the most sensible way to build up a nest egg or to supplement your existing savings or investment funds. Think of it as a do-it-yourself pension plan. It is protected from creditors and the premiums are, within limits, deductible from taxable income. Use the links on this webpage to do your calculations, get more information about the products and request a quote for a new generation retirement annuity or contact a financial advisor in your town to get a quote, from an experienced financial advisor representing big brand product providers to receive the following benefits: Very competitive fee structure Big variety of investment options Investment portfolio that could be changed at anytime

Retirement (Investing at retirement)

When you have reached the important milestone of retirement there are a few very important decisions to be made! It is critical to make the right investment choices that is aligned with your unique needs and circumstances. Some of choices you make with compulsory monies (retirement fund money) is final and can’t be changed during your retirement. Use the links on this webpage to find more information, do your unique calculations and contact an experienced and qualified financial advisor to assist you with the important decisions to be made!  

Early retirement from Retirement Annuity

Nowadays, regardless of your contractual retirement date on your retirement annuity, you are allowed to retire from your retirement annuity when you are 55 years old or older. However, you should take note that if your retirement annuity have not yet reached the contractual retirement date penalties could be levied against fund for costs not yet retrieved, in the older generation type products.  

Withdrawal from Retirement Annuity

In most instances it is not possible to withdraw funds from your RA before you turn 55. If you run into financial difficulties before then, you can stop making contributions and the benefit will stay in the fund, and grow until you retire from it. Nowadays, the entire benefit amount in the RA (not only a third) can be withdrawn as a lump sum if the benefit is less than R7 000. Moreover, should a member emigrate, the entire benefit can be taken as a lump sum subject to exchange control. In case of divorce, the court can also make an order in terms of which the non-member spouse may be allowed to access a portion of the benefit, subject to certain tax rules.  
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Retirement Planning Retirement Planning Life Insurance information, calculators & quotes Pre- & post retirement information, calculators & quotes Investment information, calculators & quotes Business Insurance information Last Will & Testament information, calculators & application Short-term insurance information & quotes Medical Scheme information & comparitive quotes Gap Cover information & application Home Loan information, calculators & application at ABSA, FNB, Nedbank & Standard Bank Contact an financial services advisor | broker | planner FAQ's Calculators Get a Quote Increase RA Life Insurance information, calculators & quotes Pre- & post retirement information, calculators & quotes Investment information, calculators & quotes Business Insurance information Last Will & Testament information, calculators & application Short-term insurance information & quotes Medical Scheme information & comparitive quotes Gap Cover information & application Home Loan information, calculators & application at ABSA, FNB, Nedbank & Standard Bank Contact an financial services advisor | broker | planner FAQ's Calculators Withdrawal Contact an Advisor Retirement Planning Retirement Planning Retirement Planning Contact a Financial Planner AFR Pre- & post retirement information, calculators & quotes Pre- & post retirement information, calculators & quotes