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The National Treasury’s call on Parliament to extend the deadline on the proposed annuitisation of provident fund benefits by another year to 2019 is not ideal, but should this time be used to ensure proper communication with stakeholders, it may have a substantial and positive impact for millions of South Africans.
The Associatian of Savings and Investments South Africa (ASISA) recently announced that drawdown rates on living annuities increased from 6.44% to 6.62% in 2016. The increase for the first time in six years since 2011 in drawdown rates is not surprising, given that markets had been relatively flat and inflation still relatively high.
To coincide with Women’s Day, Just is launching “JustEnough”, an initiative focusing on empowering those most vulnerable to the risk of outliving their assets in retirement with information to help mitigate this. In particular, we will illustrate the capital they require to secure a guaranteed lifetime income at various ages.
Guaranteed returns during economic uncertainty.
If you had to hazard a guess, when do you reckon the COFI Bill will be signed into law?