Why a Retirement Annuity is a good idea
- It is a tax efficient way to save for your retirement
- Your money is invested and will grow
- You can avoid brokers by investing directly online
- You are not locked in, and you can cancel or lower your contribution at any time
10X Retirement Annuities are better because we offer
- Low fees. Our fees are never more than 1% excl. VAT
- A highly diversified portfolio ensuring superior, long-term results
- Clear, transparent reporting
- Since its inception in 2018, the 10X High Equity Portfolio has outperformed the average return of large fund managers
Access to your Retirement Annuity
You can only retire from your Retirement Annuity from age 55 onwards (there is an exception due to ill-health). You can, however, withdraw before the age of 55 either in emigration, or if the RA value is less than R7,000.
At retirement, you may take up to one third as a cash lumpsum and two-thirds must go towards a compulsory annuity. Compulsory annuitisation applies to fund balances above R247,500.
On death, your benefit will be allocated to the dependents in your beneficiary nomination form. If you do not leave any financial dependents, the benefit will be allocated according to your beneficiary nomination form. If you do not have any financial dependents and you fail to complete this form, the money will fall into your estate and will be distributed according to your will.
What transfers can a Retirement Annuity accept and make?
You can transfer your Retirement Annuity tax free from one provider to another, but you cannot transfer it to another type of retirement fund. The cost or penalty for transferring depends on your service provider.
Fees
The 10X Retirement Annuity (RA) is a new generation RA. You are not required to use a broker (you can deal with 10X directly, or online) and you are charged only one investment management fee, at a maximum of 0.90% per annum (excl. VAT).
The sooner you start, the sooner you can #10XYourFuture.
To find out more about our Retirement Annuity, click here.
You can also apply online here.
