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A living annuity is a retirement investment product that allows retirees to receive regular income payments while keeping their investments in the financial markets.
*Inflation Protector return assumes a full 90% allocation of your original capital invested to the Everest Strategic Income Portfolio at inception. Transfer out of this living annuity must be processed upon request however the min. 5-year term refers to early transfer fees that do apply within the first 5 years of investment. Any financial advisor fees charged will influence the returns referenced unless already referenced in any projections.
You can specify the income you want to receive, between the current legislative limits of 2.5% and 17.05% p.a. of the value of the annuity policy. This drawdown limit may be adjusted once a year.
You can select how often you receive your income; paid monthly, quarterly, bi-annually or annually, which can also be adjusted once a year, when reviewing your policy.
You may not withdraw from the annuity policy in addition to annuity income unless the value of the policy is below the legislated minimum amount of R125 000, in which case a full withdrawal may be requested. Withdrawals will be subject to income tax.
Income tax will be deducted from your annuity income before it is paid out to you, under South African income tax legislation. To promote greater growth, no tax is levied on returns earned within your living annuity such as interest, dividends, capital gains or REIT (Real Estate Investment Trusts) tax.
You can specify the income you want to receive, between the current legislative limits of 2.5% and 17.05% p.a. of the value of the annuity policy. This drawdown limit may be adjusted once a year. Should you pass away, any remaining money in the annuity policy will be paid to your nominated beneficiaries, and should you not have nominated beneficiaries, they will not form part of the estate and will not be subject to estate duty tax or executor’s fees.
This product offering and outcome is based on the selected fund and performance. Past performance is not indicative of future results. Historical returns and performance data are provided for informational purposes only and should not be interpreted as a guarantee of future performance. It is important to consider your own financial situation, investment objectives, and risk tolerance before making investment decisions. For financial advice, please consult a qualified financial advisor to discuss your needs and objectives in line with your risk profile. This solution is no suitable for annuitants who require a drawdown of greater than 10% per annum.
You can specify the income you want to receive, between the current legislative limits of 2.5% and 17.05% p.a. of the value of the annuity policy. This drawdown limit may be adjusted once a year.
You can select how often you receive your income; paid monthly, quarterly, bi-annually or annually, which can also be adjusted once a year, when reviewing your policy.
You may not withdraw from the annuity policy in addition to annuity income unless the value of the policy is below the legislated minimum amount of R125 000, in which case a full withdrawal may be requested. Withdrawals will be subject to income tax.
Income tax will be deducted from your annuity income before it is paid out to you, under South African income tax legislation. To promote greater growth, no tax is levied on returns earned within your living annuity such as interest, dividends, capital gains or REIT (Real Estate Investment Trusts) tax.
Should you pass away, any remaining money in the annuity policy will be paid to your nominated beneficiaries, and should you not have nominated beneficiaries, they will not form part of the estate and will not be subject to estate duty tax or executor’s fees.
This product offering and outcome is based on the selected fund and performance. Past performance is not indicative of future results. Historical returns and performance data are provided for informational purposes only and should not be interpreted as a guarantee of future performance. It is important to consider your own financial situation, investment objectives, and risk tolerance before making investment decisions. For financial advice, please consult a qualified financial advisor to discuss your needs and objectives in line with your risk profile. This solution is no suitable for annuitants who require a drawdown of greater than 10% per annum.
A life annuity is not an investment, but rather an insurance policy. It offers you the ability to forfeit your retirement capital (unless certain additional polices or guaranteed terms are taken up) in exchange for purchasing a policy that provides for a set income for the remainder of your life.
A living annuity is an investment that allows for flexibility with regard to the amount of income you wish to draw from your capital, which can be left to your loved ones. However this is not guaranteed and therefore underlying investment solutions should be chosen to suit the income required by you, the retiree.
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Everest Wealth Management (PTY) Ltd (2002/004025/07) is a registered financial services provider.FSP 795 CAT I & II & IIA. | Everest Advisory Services (PTY) Ltd ( 2017/362676/07) is a registered financial services provider. FSP 49495 CAT I. | Everest Protect (Pty) Ltd (2022/840317/07) is a registered Financial services provider with the FSCA. Registered FSP 52980 CAT I .
