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What is the benefit of a retirement annuity?

Posted 23 June 2015

Gali says:
25 May 2015 at 21:33

What are the benefits of a retirement annuity in both the short term and the long term and would you recommend taking one out?

TaxTim TaxTim says:
26 May 2015 at 22:58

Unfortunately we are not certified financial planners and cannot answer this question other than to say the tax benefits are a deduction up to a maximum of 27.5% of gross income each year which is limited to R500 000 per annum.

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