No one wants to think about retirement –unless it’s guaranteed to mean lounging on a beach on some island, with a cocktail in your hand, far away from your cold, hard desk.
Whatever retirement means to you, it’s something we all have to think about. However, it’s not always clear how to plan for it in the most effective way.
February is the end of the tax year – did you know you can get tax incentives by choosing to contribute more money towards your retirement?
Head of retail distribution at Sanlam Investments Gielie de Swardt gave us these points to explain the advantages and disadvantages of retirement annuities and employee funds.
RA vs Pension fund: Here are the pros and cons of your retirement plan
Image: Photo by pinkomelet via 123RF
No one wants to think about retirement –unless it’s guaranteed to mean lounging on a beach on some island, with a cocktail in your hand, far away from your cold, hard desk.
Whatever retirement means to you, it’s something we all have to think about. However, it’s not always clear how to plan for it in the most effective way.
February is the end of the tax year – did you know you can get tax incentives by choosing to contribute more money towards your retirement?
Head of retail distribution at Sanlam Investments Gielie de Swardt gave us these points to explain the advantages and disadvantages of retirement annuities and employee funds.
Retirement annuity
Retirement annuities are private retirement funds that anyone can purchase in order to save for their retirement.
Pros
Cons
Employee fund
You contribute to an employee fund through your employer deducting the amount from your salary. An employee retirement fund can either be a pension fund or a provident fund.
Pros
Cons
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