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Reducing your risk of income loss and more. Risk Management

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Family home or investments.      My Property

Parliament finally passed the retirement reform proposals

In short, the key changes are:

·         Tax deductibility to pension/provident and/or RA funds [together] will be the lessor of:

·         R350 000; or

·         (bb) 27,5 per cent of the higher of the person’s— (A) remuneration or taxable income

·         The De Minimus amount, where the full fund value can be cashed in, has been increased to R247 500

·         From 1 March 2016 there will be forced annuitisation of provident funds. But:

·         This will only apply to contributions made after 1 March 2016. All provident funds will therefore have two accounts-pre-1 March 2016, and all growth thereon, which stays under the old rules, and post 1 March 2016 money and growth thereon which falls under the new rules

·         Anyone aged 55 on 1 March 2016 will not have to annuitise, as long as they stay in the same fund

Registerred Financial Service Provider:Netco Risk Management FSP 40265

  Address:Platinum Junction Park
Milnerton, 7441

Hours of Operation:Mon. to Fri. 9am to 4pm

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