Life and living annuities

Do you have life or living annuities left in South Africa? If you have, it’s important to take a look at your options.

South African life and living annuities

Do you have life or living annuities left in South Africa? If you have, it’s important to take a look at your options and what you can do as a South African living abroad. Let FinGlobal give you an overview.

What is a living annuity?

Living annuities are retirement investment products which offer you an income from your retirement savings. With a living annuity, you choose your income level as well as investments. It offers greater flexibility than normal retirement investments, but also higher risk.

What is a life annuity?

A life annuity is similar to a living annuity but differs in one respect. Under these annuities it is important to determine the best time for annuitisation. Once annuitised, there is no chance of the beneficiary outliving their money as the pension is guaranteed for life, it therefore has higher initial risk, but lower long term risk. No changes can be made to the income or investment after the fact.

What can South Africans living abroad do with their annuities?

Options are quite limited. The income level and payment frequency in respect of a living annuity can be adjusted within fixed parameters. Policy surrender is possible in certain situations where investment values fall below specific thresholds.

How does it work?

FinGlobal will deal directly with your insurer to make all the necessary endorsements to your annuities or determine whether you qualify for encashment.

What are the fees?

Our initial consultation to you is cost-free and includes a quotation for our services. Fees are fixed and payable only on successful completion of the job.

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Client testimonials

To everyone at FinGlobal (previously cashkows), I extend warm thanks for your help & professionalism in cashing in my annuities. It could not have gone better, & I will recommend your services to anyone facing the same dilemma of getting funds out of SA. It is a very complicated procedure for a layman & FinGlobal smoothed the way at all times.

Richard Gale

Thank you FinGlobal (previously cashkows)! Couldn’t have done it without you! We were VERY relieved that you managed to bring all our tax returns up to date with SARS and cashed in all our various policies, retirement fund and pension fund.

Lizette Verster

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