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News and Views

Five common mistakes to avoid when planning your retirement

Our experience has seen retirees make the same errors time and time again when it comes to important decisions about retirement income. There are five common mistakes that you should try to avoid.

Guaranteed annuities and inflation - what is the impact?

It is important to understand different life annuity options available when you retire so you can protect yourself from rising inflation and reduced purchasing power, and most importantly increase the propensity to cover your essential expenses throughout retirement.

What is an annuity?

Around the world, annuities are commonly used as a way to fund retirement. Yet the term “annuity” is often misunderstood. An annuity is a financial services product that provides a future regular income stream in exchange for an initial fixed contribution.

The key differences between a living annuity and a life annuity

Many financial service providers offer a host of life, living and hybrid annuity products. It may be difficult to know which annuity product gives you the best possible retirement income that is suited to your individual circumstances.

Saving for retirement

Saving for retirement is often just as much a mental battle as it is a financial one. To get you started on your retirement savings journey and on the road to a more comfortable retirement, here are five simple steps to follow.

Retirement and tax

The role of tax in your retirement planning is important to put yourself in a better position to make informed choices about how to grow your savings in the most tax efficient way possible, and increase your pension pot without needing to increase your monthly contributions.

Blended annuities – just right for your retirement income needs?

One way to better manage the higher risk of living annuities and the rigidity of guaranteed annuities is to use a blended annuity, a retirement income product that has the best of both in one.

The emotional toll of choice

Current regulations require you to use a minimum of two thirds of your retirement fund income to purchase a life annuity or a living annuity, or a combination of both. It's a big choice for retirement! Which one should you choose? 

Now is the time to lock in market gains

Fresh uncertainties could have people looking for financial certainty, and there’s some good news for those considering their retirement income options. 

This article appeared in Money Marketing, Cover and EBNet.

Poor health could secure you a higher retirement income

November is Men’s Health Awareness Month. It is estimated that in South Africa, prostate cancer will surpass all other forms of cancer by 2023. But while a diagnosis of prostate cancer would be bad news for your health, it could be good news for your retirement income.

This article appeared in FA News, EBNet and Cover.

Annuity innovation no oxymoron

While no annuity products score full marks on their ability to address every retirement risk and need effectively, by comparing them we can see how annuity innovation has yielded products that suit a range of circumstances and risk appetite. 

This article appeared in Money Marketing, FA News and EBNet

Recreate your future, rethink retirement

Increased global longevity is giving us more years of active health and possibly a longer retirement. But within current economic and political constraints, how can South Africans approaching retirement make these extra years count for more than just ‘bought time’?

This article appeared in IOL Personal Finance, MONEY MARKETING and FA NEWS.