Can I claim back my Momentum RA premiums?


Question:

How do I claim back my premiums if my Momentum RA is in arrears due to the fact that I can no longer continue contributions due to family problems?

Answer:

Tshidiso,

Unfortunately, you cannot claim back your premiums. If you can no longer afford to contribute, you will have to make your Momentum RA paid-up (ie stop contributing and surrender the policy). If your paid-up retirement annuity value is less than R7 000, Momentum will pay you out. If it is more, you will have to wait until you turn 55, to claim your money.

The information and answers supplied in this section do not constitute advice as defined by the Financial Advisory and Intermediary Services Act, 37 of 2002.


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