New dawn for legacy RAs
The Citizen|November 11, 2024
It is essential to carefully consider a few factors before deciding to stay or go.
Suzean Haumann
New dawn for legacy RAs

Legacy retirement annuities (RAs) are retirement annuities that were issued before 2005. These older RAs often come with certain restrictions and penalties that can hinder investment growth and flexibility. Investors were "forced" to remain invested in these products because of the high penalties imposed.

The good news: reduced penalties and enhanced flexibility. A significant change in South Africa's retirement landscape has opened up new possibilities for investors with legacy RAs.

These amendments have resulted in a decrease in penalties associated with premature transfers-outs or discontinuation of regular contributions.

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Diese Geschichte stammt aus der November 11, 2024-Ausgabe von The Citizen.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

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