Go Unlimited with Magzter GOLD
Get unlimited access to 10,000+ magazines, newspapers and Premium stories for just
Try GOLD - Free
New dawn for legacy RAs
The Citizen
|November 11, 2024
It is essential to carefully consider a few factors before deciding to stay or go.
Legacy retirement annuities (RAs) are retirement annuities that were issued before 2005. These older RAs often come with certain restrictions and penalties that can hinder investment growth and flexibility. Investors were "forced" to remain invested in these products because of the high penalties imposed.
The good news: reduced penalties and enhanced flexibility. A significant change in South Africa's retirement landscape has opened up new possibilities for investors with legacy RAs.
These amendments have resulted in a decrease in penalties associated with premature transfers-outs or discontinuation of regular contributions.
This story is from the November 11, 2024 edition of The Citizen.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM The Citizen
The Citizen
Boy's killer faces new trial
US prosecutors asked a judge on Tuesday to retry the main suspect in the infamous New York kidnap and murder of a six-year-old boy 46 years ago.
1 min
November 27, 2025
The Citizen
SA weighs 20% tax on online gambling
South Africa is considering imposing a 20% tax on online gambling to curb its rapid growth and address related social harms.
1 min
November 27, 2025
The Citizen
R6m reasons to hit jackpot
OPPORTUNITIES: SUMMER CUP A BETTOR'S DREAM
1 mins
November 27, 2025
The Citizen
Pension fund collapse exposes national rot
Incompetence and interference erode workers' futures. SA needs brains, not decay, writes Ivan.
1 min
November 27, 2025
The Citizen
We deserve more Tests
After an incredible two-Test shellacking of India on their home turf, surely the Proteas Test team deserve to be respected - and rewarded?
1 mins
November 27, 2025
The Citizen
Victory over India was team effort
It takes a special bunch of players to beat India in their backyard in Test cricket.
1 mins
November 27, 2025
The Citizen
Better life derailed by looting
There has been an explosion on the looting express.
1 mins
November 27, 2025
The Citizen
Trump turns turkey pardon into political roast
Donald Trump turned Washington’s fluffiest tradition into something a little tougher to carve on Tuesday - swapping holiday cheer for political score-settling as he pardoned two turkeys in the annual White House Thanksgiving ceremony.
2 mins
November 27, 2025
The Citizen
Tshituka: Sharks in ‘a good space’
Despite their coaching shakeup, poor form and Springbok duties, Sharks captain Vincent Tshituka said the team is “in a good space” mentally and preparation-wise ahead of Saturday night's clash with Connacht.
1 mins
November 27, 2025
The Citizen
Preparing for combat
Taiwanese President Lai Ching-te said yesterday his government will propose $40 billion (about R686 billion) in additional defence spending over eight years, as the democratic island seeks to deter a potential Chinese invasion.
1 min
November 27, 2025
Listen
Translate
Change font size