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If you are about to retire and concerned that your retirement savings won’t be sufficient to draw a sustainable income, you might be weighing up whether a guaranteed life annuity or a living annuity will be best. Here are some of the main factors you should consider before deciding on which to purchase with your retirement benefit.
Retirement is probably the only time you can justify spending your life’s savings. With current laws requiring that pensioners buy a living or life annuity product with at least two thirds of their retirement savings when they retire, it’s also likely to be a gift that you buy yourself and may not be wrapped as you would expect.
With Christmas decorations about to pop-up all over malls and shopping centres across the country, we're all realising the year is quickly coming to an end. You might not have made progress on your 2022 New Year’s Resolutions, but fear not, you can still have an excellent financial start to your 2023.
If you had to hazard a guess, when do you reckon the COFI Bill will be signed into law?