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Retirement Annuity

A Retirement Annuity provides a simple and tax-efficient vehicle for sound retirement planning. LifeSense can help you decide if a retirement annuity is the best choice for your personal circumstance, and ensure you invest in the best solution.

 

What Are Retirement Annuities?

 

Retirement annuities are savings plans that let you to join funds via either monthly cash contributions or lump sums, allowing you access to your investment after an agreed upon retirement date. Part of the savings are repaid to the investor as a lump sum, while the rest is used to ensure a set monthly income post-retirement, much like the pension funds with which you may be familiar.

These are, as you would expect, long-term investments, with access to savings heavily prohibited prior to reaching retirement age. Retirement annuities, however, do offer a range of unique benefits that make them incredibly popular retirement planning solutions.

 

The Benefits of Retirement Annuities

  • Extremely tax efficient; the government provides tax breaks on income put towards retirement annuities to encourage retirement planning
  • Reliable; heavy restrictions on fund access means that you will not be tempted to undermine your future financial wellbeing
  • Generally provide access to multiple funds
  • Usually allow ad hoc additional lump sum contributions
  • Continues to accrue wealth regardless of changes in employment

 

Find Out How Far an Investment of R250 Each Month Can Go  with Our Keystone RA. 

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