Category: retirement

It’s important to understand which RA will suit your lifestyle

A retirement annuity (RA) is a pension plan designed for individuals to build up and accumulate money for retirement in a tax efficient way. It is a vehicle to save towards retirement.

Some benefits of an RA

  • You don’t pay tax on RA investment returns, such as interest income, dividends and capital gains.
  • The maximum tax-beneficial contribution is up to 27.5% of the greater remuneration or taxable income,

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The old way of thinking about retirement is becoming less and less attractive to the younger generation. It used to be that you work for one or two companies, have a career spanning +/- 40 years and only retire at age 65.

There is a generation of growing voices who want to retire early. Retirement has always been looked at from an age perspective and this way of thinking assumes that if you work for long enough and save money over 40 years,

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You have handed in your resignation, you are excited about you next move then HR hands you forms to complete on what you want to do with your Pension/Provident fund. What do you do? What options do you have?

Whatever the reason you are leaving your current employer for, you need to make the decision on what to do with your retirement fund.

Here are your options:

  1. Transfer your pension/provident fund to your new employer

If you are starting a new job and your new employer has a pension or provident fund,

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