|
Andre says: 25 January 2016 at 10:50 I have a retirement annuity with Momentum. I only pay R500 a month and want to know on the day I retire if 2/3 will have to be reinvested in a annuity (to pay me interest every month) or if there is a certain threshold whereby I get 100% out on the day I retire? On SARS website the use the wording "annuity interest lumpsum" which tells me its on the "interest" part on where you might get something back. |
|
TaxTim says: 26 January 2016 at 15:13 Two thirds has to be reinvested in an annuity upon retirement unless the fund balance is less than R75,000 at retirement (and less than R247,500 from 1 March 2018). |
Do Your Tax Return Easily