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Can my employer contribute to a retirement annuity on my behalf?
Employers can contribute to employee RAs. See how this might work.
Read moreWhat are the differences between a provident and a pension fund?
Historically, pension and provident funds had significant differences in how you could access your money at retirement.
Read moreGeneral
What is a preservation fund?
A preservation fund is a retirement fund in terms of the Pension Funds Act.
Read moreWhat happens if I contribute more than my annual allowable amount?
If you contribute more than your annual allowable amount of R46,000 in a tax year the amount contributed above the annual allowance will be taxed at a rate of 40%, regardless of your personal income tax rate.
Read moreLiving annuity
What is a Living Annuity?
A Living annuity is a financial product that pays you a regular income. You can choose between two types of annuities: a Guaranteed Annuity or a Living Annuity.
Read moreRetirement annuity
How does tax work on a Retirement Annuity?
Retirement annuities are tax-efficient investment vehicles, meaning that they come with tax rebates for investors.
Read moreAre retirement annuity contributions tax deductible?
You may deduct up to 27,5% of your gross remuneration or taxable income (whichever is the higher) in respect of your total contributions to a pension, provident or retirement annuity fund, subject to an annual limit of R430 000.
Read moreWhat is the maximum I can contribute to a retirement annuity?
You can invest up to 27.5% of your taxable income in a 10X retirement annuity, with a maximum tax deduction limit of R430 000 per annum.
Read moreWho should consider using a retirement annuity?
It’s never too early or too late to start saving for your retirement.
Read moreWhat is the maximum I can contribute towards a retirement annuity?
Retirement Annuity contributions are tax deductible under S11(k) of the income tax act.
Read moreCan a person have more than two retirement annuities?
Investors can take out as many RAs as they choose, with the same or different providers. They can all be accessed at different times. However, the rules relating to the minimum amount requiring annuitisation (R360,000) are applied per fund
Read moreTax-free savings account
How much am I allowed to contribute to my TFSA?
Legislation allows you to invest up to R46,000 per year towards a TFSA, or R3,000 per month, with the maximum lifetime contribution being R500,000.
Read moreWhat happens if I contribute more than R46,000 in a tax year?
If you contribute more than your annual allowable amount of R46,000 in a tax year the amount contributed above the annual allowance will be taxed at a rate of 40%, regardless of your personal income tax rate.
Read moreWhat is a Tax-Free Savings Account?
Tax-Free Savings Accounts (TFSAs), which were introduced in South Africa in 2015, provide tax benefits to turbocharge your savings and grow your investments tax-free.
Read moreUnit trusts
How is my unit trust investment taxed?
Your unit trust investment will earn interest and dividend income, and the price of your units will reflect the changes in the market value of the underlying assets.
Read moreHow can we 10X Your Future?
Begin your journey to a secure future with 10X Investments. Explore our range of retirement products designed to help you grow your wealth and achieve financial success.