A retirement annuity provides investors with a smart, disciplined and tax-efficient approach to retirement savings. In addition, investors who use their year-end bonus to add a lump sum to their retirement annuity (RA) before the end of the tax year, can offset this against their tax payable.
Why invest in an RA?
It helps secure a comfortable retirement by:
- Kickstarting your retirement savings
- Allowing your capital to grow
- Protecting your savings from creditors
- Encouraging disciplined savings for retirement
- Letting you transfer your savings seamlessly to a retirement income solution
- It reduces tax:
Contributions are tax deductible.
Excess contributions that didn’t rank for deduction, may be carried forward to the following tax year (subject to limitations).
Earnings are protected from taxes, including capital gains.
We’ve made it easy for you
If you have clients invested in an RA, you will have received English & Afrikaans client-facing emailers that you can easily forward to your RA clients.
You can also draw a list of your RA clients from our intermediary web under My Practice, by selecting Values per product in the left-hand menu, and generating a list of all clients invested in retirement annuities.
For your clients who do not use the internet with confidence or who wouldn’t want to do a top-up on the client web, you can also do an online investment on the Glacier Investment Hub or generate an ad hoc investment application form on the intermediary web.
Clients will need to add lump sums before the specified dates:
- Cut-off date for additions via debit order: 21 February 2024
- Cut-off date for internal transfers: 21 February 2024
- Cut-off date for additions via Electronic Funds Transfers: 29 February 2024
- Cut-off date for money to reflect in our account: 29 February 2024
Read more about ways to maximise tax benefits here
