Browse FAQs
Contents
Living annuity
What is the difference between a preservation fund and a living annuity?
The Living Annuity is, an investment product. It transfers the risk and responsibility of securing an income for life onto your shoulders. In return, you have greater income flexibility and your heirs inherit your capital after your death.
Read moreHow is a living annuity taxed?
No tax is payable on amounts transferred into your living annuity and you do not pay tax on the investment returns you earn within your living annuity.
Read moreWho should consider using a living annuity?
Choosing between a living and a guaranteed annuity requires a careful evaluation of your personal needs, circumstances and priorities.
Read moreCan I withdraw all the funds from my living annuity?
A living annuity is a post-retirement product. One of the conditions of choosing a living annuity is that you must withdraw between 2.5% and 17.5% pa of the fund balance (at the anniversary date). You make this election once per year.
Read moreWhat is the difference between a guaranteed annuity and a living annuity?
A guaranteed annuity will provide an income that is guaranteed to last for your whole life (and your spouse’s, if applicable), but your heirs won’t be able to inherit whatever is left on your death.
Read moreWhat transfers can a living annuity accept and make?
Transfers in: A living annuity may only accept transfers from another living annuity or from a retirement fund (pension, provident, pension preservation, provident preservation or a retirement annuity fund).
Read moreCan I transfer my current living annuity to another provider?
The living annuity is a post-retirement product. You can transfer your current living annuity to another provider, or you can use the proceeds from your retirement fund to buy a living annuity.
Read moreCan I make a lump sum withdrawal from my living annuity?
No, you cannot. Once the money has been committed to the living annuity, it can only be paid out under living annuity rules.
Read moreHow much will I receive monthly from my living annuity?
f you invest two-thirds of R1.9m in a living annuity (R1.26m), you must draw between 2.5% (R32 000) and 17.5% (R222 000) per annum (R2 700 – R18 500 per month). This money will be taxed on the normal income tax tables.
Read moreCan I buy a living annuity with my GEPF lump sum payout?
You cannot transfer to a retirement annuity as that would be tantamount to preserving your savings, which is not permitted once you reach normal retirement age.
Read moreWhat is the performance record of the 10X Living Annuity?
We have only just launched the living annuity, but it uses the same investment portfolios as our retirements funds (our High, Medium and Low Equity portfolios).
Read moreCan I split retirement annuities across various living annuities?
You can pay each of your retirement annuities into a different living annuity, with a different provider, or you can pay them all into the same living annuity at the same time, or add them
Read moreHow much income will my living annuity pay?
You have the flexibility to choose the annual income your living annuity will pay, between 2.5% and 17.5% of your remaining capital at your policy anniversary date.
Read moreHow can we 10X Your Future?
Begin your journey to a secure future with 10X Investments. Explore our range of retirement products designed to help you grow your wealth and achieve financial success.