If you are a member of a pension fund or have a retirement annuity, two-thirds of your final retirement amount must be used to purchase a retirement income.
Tag - guaranteed annuity
A retirement annuity is a great, tax-efficient way to save for your retirement, but they do come with certain rules.
There are two main options when it comes to purchasing an annuity income: a guaranteed life annuity or a living annuity.
If you have been diagnosed with breast cancer, you may qualify for a higher income in retirement.
The financial industry is coming to the realisation that retirement, in the way that we currently understand the concept, is no longer feasible.