Question:
With the 2012/2013 legislation, did the minimum amount of R75 000 change for commuting of a retirement annuity entirely into cash?
Answer:
Kuby,
You may commute a retirement annuity entirely into cash if the balance, at retirement (earliest age 55), is R75 000 or less. This limit was not raised in the latest budget.
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.
