Selecting the correct annuity is critical, but you are not limited to one option.
When it is time to retire from your retirement funds (pension, provident, retirement annuity and preservation funds), there are essentially two main options available to provide you with an income (pension) - a guaranteed life annuity or a living annuity.
As financial advisors, we are often asked which annuity option is best. The two main annuity options intentionally differ, in fact they are almost opposite of each other, each with their own advantages and disadvantages.
These differences exist to help ensure that you can select an annuity option that best matches your individual life circumstances, goals, and objectives.
Guaranteed life annuity
A guaranteed life annuity is a solution that is typically offered by a life insurance company. An insurer will quote you a monthly pension (income) based on factors such as your age, gender (and that of your spouse), the purchase sum and whether you want annual pension increases or not.
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Walk Of Stars for Mes/dan success
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Alchahine stands out in Abu Dhabi
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Paisley Park to show he still has a winning touch
One has to go back to December 2022 to find the last time Paisley Park was led into the winner's enclosure.
Cup draw function sets the tone
Murphy adds international flair to meeting.
Star power falls short
Hollywood stars including Eva Longoria and Dominic West this week attended a centuries-old charity wine auction in the French town of Beaune, the capital of Burgundy wines, though the sums raised fell short of expectations.
Dinosaur skeleton fetches R116 million
The skeleton of a 22-metre-long dinosaur fetched €6 million (R116 million) last Saturday, AFP learned from auction houses Collin du Bocage and Barbarossa.
Four curated art sales
Strauss & Co will host four curated sales on Monday and Tuesday.
Year-end truck sale
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Unfancied Magesi FC count Richards Bay, Orlando Pirates and TS Galaxy among their cup scalps.
Proteas get a raw deal
The Proteas have been extremely hard-done-by with the lack of Test cricket over the current Test Championship cycle, and many of their players as well as head coach Shukri Conrad have voiced their dissatisfaction.
