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Living annuities in South Africa: The pros, cons and risks every retiree should understand | SA News

Imagine retiring tomorrow with R10 million. You have spent decades working, saving and investing. Now that money needs to provide an income for potentially the next 30 years.

You have an important decision to make.

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You could purchase a life annuity from an insurer, providing a guaranteed income for life. Alternatively, you could invest your retirement capital in a living annuity, retain control over your investments and decide how much income to withdraw.

The second option sounds attractive. After all, who wouldn’t want control over their retirement savings?

But there is a catch. With control comes responsibility. And if your retirement capital…

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