Can I make a lump sum withdrawal from my living annuity?

Question:

Hi I am 57 yrs old. Early retirement in April 2013.Have a linked living Annuity(investment retirement income plan),Only took out the tax free portion (on retirement) about R315000. Can I withdraw the difference between the R315000 and the 1/3 portion,that was allowed at that time.

Answer:

No, you cannot. Once the money has been committed to the living annuity, it can only be paid out under living annuity rules. To access your money sooner, your only option is to increase the annual draw-down to the maximum permitted rate of 17,5%.