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Retirement annuity
What is the maximum I can contribute towards a retirement annuity?
Retirement Annuity contributions are tax deductible under S11(k) of the income tax act.
Read moreHow do I top up my RA using My10X?
You can make a top-up to your 10X investment on our member portal, My10X.
Read moreDo you pay tax on a retirement annuity?
Even though retirement annuities are tax-efficient investment vehicles, there are instances whereby you would be liable to pay tax on the proceeds of your annuity.
Read moreWho should consider using a retirement annuity?
It’s never too early or too late to start saving for your retirement.
Read moreWhat happens to the balance of an RA fund upon death?
This depends on the type of pension (annuity) your husband bought.
Read moreIs it advisable to move my Old Mutual RA to my Momentum RA?
We cannot use this forum to offer individual advice, and obviously we have far too little information to do so. Our answer therefore has to be somewhat generic.
Read moreWhat are the similarities between the Sanlam and Old Mutual RA's?
As a broad generalisation, both are expensive in terms of fees, inflexible in terms of contributions, confusing in terms of your investment choice, lacking in transparency on fees and performance
Read moreCan I resume payments to my paid-up Old Mutual RA?
As you took out an Old Mutual RA, this will be a life company retirement annuity, which is underwritten and subject to a long-term contract or policy.
Read moreDo I get my money back when canceling my Old Mutual RA?
You do, but unless its less the paid-up Old Mutual RA value is less than R7 000
Read moreWhat is the maximum I can contribute to a retirement annuity?
You can invest up to 27.5% of your taxable income in a 10X retirement annuity, with a maximum tax deduction limit of R350 000 per annum.
Read moreAre retirement annuity contributions tax deductible?
You may deduct up to 27,5% of your gross remuneration or taxable income (whichever is the higher) in respect of your total contributions to a pension, provident or retirement annuity fund, subject to an annual limit of R350 000.
Read moreCan SARS deduct tax that I owe from my retirement fund?
SARS does not use your retirement fund lump sum to deduct tax that you owe in respect of income - this is not permitted by the Pension Funds Act.
Read moreCan I take out a loan against my retirement annuity?
By law, you are not permitted to take a loan from your retirement annuity
Read moreHow does tax work on a Retirement Annuity?
Retirement annuities are tax-efficient investment vehicles, meaning that they come with tax rebates for investors.
Read moreWhat is the best retirement annuity for my pension?
An RA (retirement annuity) is a pre-retirement product. You should discuss your options with a financial advisor to determine what is the best retirement annuity for you.
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.