KNOW YOUR OPTIONS
There are many options at retirement and selecting the right vehicle for one’s investment needs is not an easy decision, and some decisions can’t be reversed.
Essentially, there are three main options when it comes to retirement income solutions:
1
LIFE ANNUITY
A life annuity provides a guaranteed income for life. There are additional options to pay a reduced income to the surviving spouse for life in case of death of the client. Should the client and spouse die after the guarantee term, the income stops and no funds are payable to any beneficiaries.
2
LIVING ANNUITY
A living annuity provides no income guarantee. Clients, however, have the flexibility to invest their monies as they wish, change their income levels on an annual basis (within legislated limits) and nominate beneficiaries in case of their death.
3
STAY WITH GEPF
Those in the GEPF have this third option. The fund provides a higher income but this income will be reduced for the surviving spouse on the death of the first person, and the income falls away on the death of the second spouse, therefore there will be no inheritance for the children.
EXPLORE FURTHER INVESTMENTS
Culmine Financial Planning specialises in investing retirement fund lump sums through Allan Gray Investments, Sanlam Glacier or Old Mutual Wealth Investments.
Our team will guide you and help you answer the following questions:
- Does my income need to keep pace with inflation?
- Do I want to leave an inheritance?
- Do I need a guaranteed income, or at least some level of certainty?
- How do I invest to receive an income for life?
- No ‘one-size-fits-all’ solution
Contact Us At
Or WhatsApp Us at +27 732790698
We offer a wide range of services such as Income Protection, Trust Planning, Estate Planning (WILLS), Retirement Planning, Your Medical Practice, and Investment Planning.