ASSA Retirement Matters: Two Pots and DB Funds Sessional 27 May 2024

This was an online sessional, highly rated and informative which you can access by clicking on the title above and using the passcode:  5A^?^#jq

One hour and 26 minutes of viewing.

Research points to the need for regular reviews to ensure a living annuity will last

Research by the Actuarial Society of South Africa (ASSA) highlights why it is important for pensioners with a living annuity to meet regularly with their financial advisers to review their drawdown rates.

The results of the research should be carefully considered by living annuitants who assume they can ensure their capital will last the distance simply by setting a low initial drawdown rate – and hoping for the best.

5min read

With Momentum Wealth’s living annuity, clients can invest up to 100% of their investment assets offshore, but should they?

Many living annuity providers across South Africa can no longer offer unlimited offshore exposure to their clients when they retire. That is because investment companies may not in aggregate invest more than 45% of their assets under management offshore. Once they have reached that limit, which many have, they can only allow individual clients to invest up to 45% of their assets in rand- denominated offshore funds to ensure they stay, on aggregate, within the limit. This limit does not only apply to living annuities, but also to products like endowments and certain tax-free savings investments.

Find out more about how Momentum have found a way to protect their clients’ wealth. 2.5 min read

Allan Gray Pension Fund tax warning in South Africa

Allan Gray and Coronation have warned South Africans to carefully consider the impact of withdrawing from their savings under the new two-pot system.

The two-pot retirement system is a reform that will allow retirement fund members to make partial withdrawals from their retirement funds before retirement.

2.5min read