Question:
Is it possible to split the proceeds of your retirement fund (lump sum amount - 66%), between two different companies, say, 10X and Old Mutual? Also, can you view your investments online?
Answer:
BM,
Yes, you can split the proceeds of your retirement fund into a living and a guaranteed annuity, or you can buy either two living or two conventional annuities from two different service providers. You can also convert a living annuity into a conventional annuity. However, you cannot convert a conventional annuity into a living annuity, or transfer it to another provider. You can transfer a living annuity to another service provider, but you cannot split the original living annuity.
We cannot speak for Old Mutual, but with 10X, you can view your statements online. 10X does not yet offer a living annuity, but we expect to launch this by year end.
