Retirement Annuity

Retirement annuities are an ideal way to save for your retirement because your contributions are tax deductible - within limits - and you cannot access your capital before you retire. A comfortable retirement sadly eludes most South Africans. Statistics show that only nine out of every 100 South Africans retiring at age 65 have made adequate provision for their retirement. Dreams are but one thing; reality is, all too often, something entirely different.

A pension is a long-term method of saving for your retirement; Discovery and Momentum Retirement Annuity's ensure you have enough income in retirement to enjoy a comfortable life.

You pay premiums which are invested in an investment account. At a selected retirement date, the policy will have a value equal to the value of the accumulated investment account. One third of this amount may be taken as a cash lump sum, the balance is used to purchase a life annuity to provide the policyholder with a monthly pension for the rest of your life.