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Retirement annuity
How does tax work on a Retirement Annuity?
Retirement annuities are tax-efficient investment vehicles, meaning that they come with tax rebates for investors.
Read moreAre retirement annuity contributions tax deductible?
You may deduct up to 27,5% of your gross remuneration or taxable income (whichever is the higher) in respect of your total contributions to a pension, provident or retirement annuity fund, subject to an annual limit of R430 000.
Read moreWhat is the maximum I can contribute to a retirement annuity?
You can invest up to 27.5% of your taxable income in a 10X retirement annuity, with a maximum tax deduction limit of R430 000 per annum.
Read moreWho should consider using a retirement annuity?
It’s never too early or too late to start saving for your retirement.
Read moreWhat is the maximum I can contribute towards a retirement annuity?
Retirement Annuity contributions are tax deductible under S11(k) of the income tax act.
Read moreCan a person have more than two retirement annuities?
Investors can take out as many RAs as they choose, with the same or different providers. They can all be accessed at different times. However, the rules relating to the minimum amount requiring annuitisation (R360,000) are applied per fund
Read moreWill I be penalised for a Liberty RA withdrawal?
If you have a Liberty Retirement Annuity (RA), your withdrawal options and any potential penalties are governed by both Liberty's specific terms and South Africa's retirement regulations.
Read moreCan I withdraw my Sanlam RA before age 55?
While your Retirement Annuity (RA) is with Sanlam, the rules governing early access are set by legislation and apply to all RAs in South Africa.
Read moreWhat factors should I consider when evaluating an investment product?
What factors should I consider when evaluating an investment product?
Read moreCan I get my money back if I cancel my retirement annuity?
While you can't "cancel" an RA to get all your money back, there are specific circumstances under which you can access some of your funds.
Read moreWhat are the consequences of canceling my retirement annuity?
Many investors ask about "cancelling" their retirement annuity (RA), often during financial pressure or career changes.
Read moreWhat is the annual growth that can be expected on the10X Retirement Annuity?
The annual growth of your 10X Retirement Annuity (RA) depends on several factors, particularly the fund you choose.
Read moreWhat happens to my retirement annuity when I resign?
Irrespective whether you belonged to a Group RA scheme or took out the retirement annuity yourself, the retirement annuity is a savings product for individuals, registered in your name.
Read moreWhat are the consequences of canceling my retirement annuity?
If you cancel the policy before maturity date (normally in the year you turn 55), the policy will be made "paid-up".
Read moreIs it legal to be penalised for reducing my retirement annuity premium?
Good practice no but legal and the industry standard, yes. If your retirement annuity is based on a policy (i.e most life insurance retirement annuities) then you are bound by the policy "terms and conditions".
Read moreHow can we 10X Your Future?
Begin your journey to a secure future with 10X Investments. Explore our range of retirement products designed to help you grow your wealth and achieve financial success.