No matter where in the world we live, we are all looking forward to that ‘one-day’ we’ve all been working towards. One day? The day our retirement investments mature and start paying back.

Just as you think it’s time to put up the feet, you’re faced with one more strategically important decision: should you decide to re-invest retirement savings in South Africa : living annuity or life annuity? What’s the difference and what difference does it make?

With a life annuity clients put their trust in the hands and expertise of the actuary, thereby divorcing themselves from risk and emotion. While it may feel like the most responsible thing to do its tantamount to tying ones hands, and exposing yourself to potential retirement reforms and restrictions!

The living annuity option relies on each individual’s ability to make his, or her, own annuity and earning decision – basically betting against the skills of the actuary. While this may smack of short-term vanity and freedom to access retirement funds without being cuffed to regulatory conditions, it makes most long-term sense!

To explain in one simple sentence: when living abroad, there is no sense in having your retirement income locked up in South Africa, with no room to maneuver. You will want to enjoy the freedom to access and transfer your retirement funds as, when and where you want. We call it long-term sanity.

If in doubt or need of professional advice, please feel free to make use of our please call me service. One of our consultants will get back to you with the view to talk you through the no obligation option most suitable to your family’s financial future.

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