Deciding on a living annuity or a guaranteed life annuity need not be an either-or choice. You can now combine the two to achieve a sustainable income and a legacy. Picture: 123rf.com Many South Africans have effectively been gambling with their life savings by choosing to draw a pension from a living annuity with no longevity protection and without being rewarded for the higher risk involved.
Actuary Bjorn Ladewig, from retirement product provider Just, says this is because living annuities have generally underperformed with-profit guaranteed annuities since 2006.
The company’s recent survey, Just Retirement Insights, shows that 89% of retirees want […]
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