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,