Receive a regular income from your retirement savings so that you can maintain the lifestyle you have worked so hard for. You also have the option to select a specific period during which the income is guaranteed irrespective of whether you are still alive, so that your family is taken care of.
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The one-off payment has to be sufficient to provide a monthly income of at least R100.
For the rest of your life.
A one-off payment is transferred from your pension, preservation, provident or living annuity fund. (In the case of the living annuity fund, the full amount must be transferred). You can choose from three different options:
You receive a monthly income that is determined by the size of your investment and the option you have selected.
Whether you choose a guaranteed term or choose to increase your income every year will affect the income you receive. We recommend that you discuss your considerations with your Sanlam financial adviser or accredited broker to ensure a suitable option.
Fees vary per product and will be disclosed upfront on your quotation. Please speak to your Sanlam financial adviser or accredited broker to make sure that you understand which fees you pay and why.
It is important to bear in mind that any investment has some risk. We therefore recommend that you consult a financial planner who can help you find the most appropriate products for your needs and circumstances.