Retirement Annuity

Kyle says:
1 March 2016 at 9:57

1. What is the tax on the Retirement savings. 2. If the two thirds must be taken out as an annuity, what happens to the fund when the contributor passes away?

This entry was posted in Tax Q&A and tagged . Bookmark the permalink.

TaxTim TaxTim says:
1 March 2016 at 13:43

Please make use of our Lump sum calculator to work out tax on your lumpsum withdrawal before or after retirement.

Normally, the benefits will accrue on death to a designated beneficiary (that you would have nominated).

TaxTim is FREE for all Momentum & Multiply members.

Use your ID number at the payment step to claim your free TaxTim voucher

 Do Your Tax Return Easily
 Avoid penalties
 Maximise your refund

Get started FREE

Blog Categories

Ask TaxTim

Got a question you want answered about tax?

Visit our helpdesk →

Get SARS Tax Deadlines in your Inbox
We'll tell you when you need to file, along with tax tips and updates.