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About to retire? Take great care

The next DAILY MAVERICK op-ed by Bruce Cameron says by adding five years to your working life, you can improve your retirement savings by about 20-30% and reduce the time you will spend living off your savings. Just CEO Deane Moore provides an example of how delaying retirement can help you.


Hybrid annuities: Retirement fund defaults may be the cheaper options

Bruce Cameron's latest DAILY MAVERICK op-ed says: "Those retirement funds offering default annuities, which include the hybrid option, are probably offering you the best retirement option, particularly if you have not saved enough for retirement."


Hybrid annuities: Some of the choices

“This [a blended living annuity] provides the best of both worlds allowing for the important aspects of the living annuity, with its legacy, income flexibility and market participation; and the with-profit annuity with its income security that ensures your income if you die, even well into the future” says John Anderson, head of research at Alexander Forbes in Bruce Cameron's most recent DAILY MAVERICK op-ed.


COVID-19: Tips for retirement

NETWERK24: If there is one lesson that living under lockdown has taught us, it’s that we are able to survive on less. Lockdown has afforded a timely opportunity to understand what regular spending can be considered essential and how this is impacted during the time of COVID-19. Twane Wessels says this is especially important for those in or approaching retirement, who must ensure that their retirement income is able to sustain them for life.


Change your living annuity, not your drawdown rate

As part of its response to the COVID-19 crisis, National Treasury announced a change in living annuity drawdown restrictions where pensioners will be allowed to temporarily adjust their drawdown rate to as low as 0.5% or as high as 20%, even if it is not the anniversary date of the living annuity. But current market conditions present a unique opportunity to improve the sustainability of your retirement income. And this does not require you to reduce your drawdown rate. To take advantage of this opportunity, you may want to consider some choices.

Hybrid annuities: Something to consider when choosing your pension

“Hybrid annuities will help to optimise the pension benefits to balance the competing objectives pensioners face. Hybrid annuities provide a sustainable income on the one hand, versus having flexibility for unforeseen events and the ability to leave an inheritance on the other,” says John Anderson in Bruce Cameron's DAILY MAVERICK op-ed on hybrid (blended) annuities.

[Related article: HYBRID ANNUITIES: SOME OF THE CHOICES]


Record demand for life annuity solutions – Need for security tops potential returns

MOONSTONE reports that Covid-19 has certainly changed the thinking about life annuities significantly. Guaranteed products fell from grace during the time of positive returns, with living annuities making up the bulk of sales. Now is not a bad time to reconsider the peace of mind provided by guaranteed products until, and if, sanity returns to the markets.


Life annuity sales soar amid lockdown losses

Amid the market instability brought on by COVID-19, retirement income specialist Just has reported record demand for life annuity solutions from South African pensioners looking to lock in an income for life. Sales for life annuities have doubled relative to 2019 since the COVID-19 market crash in mid-March 2020. CEO Deane Moore attributes this growth to attractive annuity rates and pensioners seeking to de-risk their retirement income in an unpredictable financial climate.


Alternative ways to structure a pension

In his latest op-ed for DAILY MAVERICK, Bruce Cameron says that the best way to overcome the disadvantages of living annuities and guaranteed annuities is to use both. This becomes even more important with COVID-19 and the downgrading of South Africa’s credit rating.


What if I’m about to retire and my savings are low?

If you are within about five years of retirement and your savings have taken a hit with the recent market falls, there are some things you need to think about, writes Laura du Preez in a recent SowetanLIVE article featuring Just CEO, Deane Moore.


Lockdown learnings for retirement

A volatile financial climate has seen many South African pensioners in living annuities looking to increase their withdrawals to cover current cash shortages. However, retirement income specialist Just advises strongly against this, recommending instead that they find ways to trim their spending, or else they run the risk of their money drying up sooner.


Clearing up confusion about annuity products

PERSONAL FINANCE clears up some confusion regarding annuities, including converting from a living annuity to a life annuity. Just's Segabe Ditodi contributes to the article and provides insight into the broader process.