Retirement Planning

Everyone aspires to provide for a comfortable retirement and therefore one needs to already start planning at an early age. It is advisable to start funding into something such as a retirement plan with your very first pay-cheque and to continue doing so until you reach retirement. However, it’s never too late to start contributing towards such retirement solutions. Affluence Group offers tailormade, expert advice on various retirement solutions.

Retirement Annuity

Retirement annuity is an excellent tax-friendly retirement savings solution for the following reasons:

Contributions tax is deductible according to predetermined SARS parameters.
Investment growth within a retirement annuity is tax-free.
At retirement, provision is made by SARS for certain tax-free allowances.
Current legislation stipulates that members must be invested until age 55. This provides security for premature withdrawals.
Funds within a retirement annuity cannot be attached by creditors.

Preservation Funds

Preservation Funds were created to assist in the preservation of a member’s funds prior to retirement, because of dismissal, retrenchment or resignation.

A member of a retirement fund can transfer all funds to a Preservation Fund without any tax implications.
The funds will continue to share in the growth of the selected portfolio.
Legislation allows one partial or full withdrawal before the age of 55. Such a withdrawal is subject to taxation as stipulated by SARS.

Living Annuities

A Living Annuity is a post-retirement solution that allows you to re-invest your accumulated retirement savings to provide a retirement income, while targeting further investment growth. You can choose any combination of underlying investments with our continuous expert advice and guidance, before reaching a decision for such an important retirement investment. Legislation allows annual adjustments to the percentage income, taken of between 2.5% and 17.5% of your investment.

Life or Guaranteed Annuities

A fixed income is provided with, or without a guarantee period for the life of the investor. Affluence Group gives expert advice when making any retirement investment decision. Investors do not carry the underlying risk of investing in any market instrument, however, the investor is bound for life with selected income and escalations.

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