Should spouses have a joint retirement annuity?

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Fees are the only difference between the “Industry” and 10X projections.
The fees used in the projections are inclusive of VAT. The investment referred to as “Industry” is assumed to charge total fees of 3% including VAT per annum. Morningstar’s Global Fund Investor Experience 2015 study shows that the average total expense ratio is 1.63% pa (which includes investment and performance fees), with the cost of advice and an administration platform adding an additional 1% to 1.5% pa. The investment with 10X assumes a total fee of 1% including VAT per annum and that the client comes directly to 10X (i.e. no advisor fee). This is the maximum investment fee charged by 10X.
The calculator assumes the you save 10% of the salary you input and that this grows annually in line with inflation.
The investment term and savings period is assumed to be from your current age to age 65, unless you are over 55. If you are over 55 the investment term is assumed to be 20 years.
Your projected investment value is shown in real terms (today's money). This means we have shown what future values would be worth today, once we have stripped out inflation.
The projected average and poor investment returns are based on historic market returns after inflation from 1900 to 2017. Historically over your savings period, one in four outcomes have been worse than the outcome shown under poor returns and three in four have been better. The projections therefore account for historical market fluctuations.
The projections are based on the 10X High Equity portfolio, which is designed for investors with an investment term of 5 years and longer. The portfolio may be highly volatile over shorter periods.
The projections do not account for tax in any way.
The projections shown are based on information provided by you regarding your financial situation. 10X Investments does not in any way guarantee the projected benefits shown; we offer these projections merely to assist you in your financial planning. Although our projections take account of the historical returns earned in the South African and International markets, future market returns are uncertain. Past performance does not guarantee nor indicate future results.
The calculations provided should not be construed as financial, legal or tax advice. In addition, such information should not be relied upon as the only source of information. This information is supplied from sources we believe to be reliable but we cannot guarantee its accuracy.

10X Investments is a licensed Financial Services Provider #28250 and S13B Funds Administrator #24/444. The information on our website does not constitute advice as defined by the FAIS Act.

© 2018 10X Investments (Pty) Ltd. All Rights Reserved.

Charges		1 Year	3 Years	5 Years	10 Years
Investment Management made up of:		1.0%	1.0%	1.0%	1.0%
10X Management Fee (Incl. VAT)	0.57%
Bank, Audit, Trustee/Custody fees	0.16%
Transaction Costs	0.3%
Advice1		0.0%	0.0%	0.0%	0.0%
Administration		0.0%	0.0%	0.0%	0.0%
Other costs		0.0%	0.0%	0.0%	0.0%
EAC (sum of charges)		1.0%	1.0%	1.0%	1.0%

Fees are the only difference between the “Industry” and 10X projections.
The fees used in the projections are inclusive of VAT. The investment referred to as “Industry” is assumed to charge total fees of 3% including VAT per annum. Morningstar’s Global Fund Investor Experience 2015 study shows that the average total expense ratio is 1.63% pa (which includes investment and performance fees), with the cost of advice and an administration platform adding an additional 1% to 1.5% pa. The investment with 10X is assumed to charge a fee according to the 10X Living Annuity scale. The maximum fee in this scale is 0.86% including VAT per annum.
Your projected income and investment value are shown in real terms (today's money). This means we have shown what future values would be worth today, once we have stripped out inflation.
The projected income in the first year will be equal to your desired income provided your annual income is between the regulatory limits of 2.5% and 17.5% of your investment value. Each year your projected income will keep pace with inflation, provided that it falls within these regulatory limits. The number of years that your projected income is able to keep pace with inflation without exceeding the regulatory cap of 17.5% is displayed on the outputs.
The projected average and poor investment returns are based on historic market returns after inflation from 1900 to 2017. These returns are based on the portfolio you selected (defaulted to 10X High Equity if your term exceeds 5 year). Historically over your savings period, one in four outcomes have been worse than the outcome shown under poor returns and three in four have been better. The projections therefore account for historical market fluctuations.
The projections shown are based on information provided by you regarding your financial situation. 10X Investments does not in any way guarantee the projected benefits shown; we offer these projections merely to assist you in your financial planning. Although our projections take account of the historical returns earned in the South African and International markets, future market returns are uncertain. Past performance does not guarantee nor indicate future results.
The calculations provided should not be construed as financial, legal or tax advice. In addition, such information should not be relied upon as the only source of information. This information is supplied from sources we believe to be reliable but we cannot guarantee its accuracy.
Note that the 10X Living Annuity is underwritten by Guardrisk Life Limited (FSP No. 76).

10X Investments is a licensed Financial Services Provider #28250 and S13B Funds Administrator #24/444. The information on our website does not constitute advice as defined by the FAIS Act. The 10X Living Annuity is underwritten by Guardrisk Life Limited (FSP No.76).

© 2018 10X Investments (Pty) Ltd. All Rights Reserved.

Fees are the only difference between the “Industry” and 10X projections.
The fees used in the projections are inclusive of VAT. The investment referred to as “Industry” is assumed to charge total fees of 3% including VAT per annum. Morningstar’s Global Fund Investor Experience 2015 study shows that the average total expense ratio is 1.63% pa (which includes investment and performance fees), with the cost of advice and an administration platform adding an additional 1% to 1.5% pa. The investment with 10X is assumed to charge a fee according to the 10X Investment fee scale and that the client comes directly to 10X (i.e. no advisor fee). The maximum fee charged by 10X in these scales is 1.04% including VAT per annum.
Your projected benefits are shown in real terms (today's money). This means we have shown what future values would be worth today, once we have stripped out inflation.
The projected benefits are shown at age 65, unless you have changed the retirement age on the output page.
Where applicable, the projected monthly income assumes that you purchase an inflation-linked guaranteed annuity at retirement with your projected investment value. This estimate assumes that you use your entire projected investment value to purchase an annuity at retirement. Our estimate is based on the recent price of an inflation-linked guaranteed annuity without a spouse. An inflation-linked guaranteed annuity will provide you with an income that grows annually with inflation and pays you an income for the remainder of your life.
The projected average and poor investment returns are based on historic market returns after inflation from 1900 to 2017. Historically over your savings period, one in four outcomes have been worse than the outcome shown under poor returns and three in four have been better. The projections therefore account for historical market fluctuations.
The projections above are based on the default investment strategy called the 10X default glide path, unless you changed the investment portfolio on the output page . The 10X default glide path automatically matches the investment portfolio’s asset allocation to your assumed retirement age. This ensures that when you are more than five years from retirement that you mainly own assets that are expected to deliver high returns - with expected higher volatility of returns - and that the portfolio will gradually be switched into less volatile assets - with expected lower returns - in the last five years before you retire, with the aim of preserving capital.
The projections shown are based on information provided by you regarding your financial situation. 10X Investments does not in any way guarantee the projected benefits shown; we offer these projections merely to assist you in your financial planning. Although our projections take account of the historical returns earned in the South African and International markets, future market returns are uncertain. Past performance does not guarantee nor indicate future results.
The calculations provided should not be construed as financial, legal or tax advice. In addition, such information should not be relied upon as the only source of information. This information is supplied from sources we believe to be reliable but we cannot guarantee its accuracy.

10X Investments is a licensed Financial Services Provider #28250 and S13B Funds Administrator #24/444. The information on our website does not constitute advice as defined by the FAIS Act. The 10X Living Annuity is underwritten by Guardrisk Life Limited (FSP No.76)

© 2018 10X Investments (Pty) Ltd. All Rights Reserved.

Fees are the only difference between the “Industry” and 10X projections.
The fees used in the projections are inclusive of VAT. The investment referred to as “Industry” is assumed to charge total fees of 3% including VAT per annum. Morningstar’s Global Fund Investor Experience 2015 study shows that the average total expense ratio is 1.63% pa (which includes investment and performance fees), with the cost of advice and an administration platform adding an additional 1% to 1.5% pa. The investment with 10X assumes a total fee of 0.57% including VAT per annum and that the client comes directly to 10X (i.e. no advisor fee).
Your projected benefits are shown in real terms (today's money). This means we have shown what future values would be worth today, once we have stripped out inflation.
The projected average and poor investment returns are based on historic market returns after inflation from 1900 to 2017. Historically over your savings period, one in four outcomes have been worse than the outcome shown under poor returns and three in four have been better. The projections therefore account for historical market fluctuations.
Your projected monthly income (if applicable), grows in line with inflation until your money is depleted.
The projections are based on the 10X High Equity portfolio, which is designed for investors with an investment term of 5 years and longer. The portfolio may be highly volatile over shorter periods.
The projections do not account for tax in any way.
The projections shown are based on information provided by you regarding your financial situation. 10X Investments does not in any way guarantee the projected benefits shown; we offer these projections merely to assist you in your financial planning. Although our projections take account of the historical returns earned in the South African and International markets, future market returns are uncertain. Past performance does not guarantee nor indicate future results.
The calculations provided should not be construed as financial, legal or tax advice. In addition, such information should not be relied upon as the only source of information. This information is supplied from sources we believe to be reliable but we cannot guarantee its accuracy.

10X Investments is a licensed Financial Services Provider #28250 and S13B Funds Administrator #24/444. The information on our website does not constitute advice as defined by the FAIS Act.

© 2018 10X Investments (Pty) Ltd. All Rights Reserved.

Should spouses have a joint retirement annuity?

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