Flexible
The living annuity focuses on income flexibility and investment choice with capital balance transferrable at death. This contrasts with the goal of the life annuity, which is a guaranteed income for life and the capital protector, which is guaranteed income for life, with original capital invested refunded at death. The focus on flexibility in the living annuity is a trade-off against the guaranteed income […]
Living annuity basics
At retirement, you instruct your retirement fund to transfer all or part of your fund balance to the living annuity of your choice.
How a Living Annuity Works
When you retire from a retirement fund such as a pension, provident, preservation or retirement annuity, you can invest all or part of your money in a living annuity to get a regular income. You can adjust your living annuity income annually and choose how your money is invested.