Retirement Annuity

Can I get my money back if I cancel my retirement annuity?

Question:

If I cancel my retirement can I get my monies that I have already paid to you?

Answer:

You plan to cancel your retirement? We find that hard to believe, and for that reason we would not give you back your money. But if you want to cancel your retirement annuity, we will give you back your money, but only if your paid-up fund value is less than R7 000. Otherwise we are obliged to hold onto it until you turn 55 or the law changes in this regard.

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