Question:
Hello I already have a primary retirement annuity with Liberty. I wish to start a secondary retirement annuity. What is the minimum monthly contribution I can make? I am looking to invest R250 to R300 per month. Thanks John
Answer:
John,
Unfortunately, the minimum monthly contribution with the 10X RA is R1 000 pm, or a minimum lump sum investment of R25 000. You may however want to consider transferring your current retirement annuity to a low cost provider such as 10X. If you are interested, please call Salie Peterson on 021 412 1010 and she will prepare you a no-obligations quote that will compare your long-term savings outcome based on the 10X fee scale versus the competitor's fee scale. This would also indicate at what point the 10X RA fee saving would compensate you for the possible early termination charge you may incur.
