Will I be penalised for a Liberty RA withdrawal?

Question:

Kindly advise if there are any penalties that I can incur should I make a withdrawal on my Liberty RA, which I suspect is worth less than R7 000.00. It’s currently paid up, as per my request to Liberty.

Answer:

Typically, if you have made your Liberty RA account paid up, Liberty will already have deducted any termination charges. Understand, however that you can only withdraw your investment (actually retire from the fund) if you are over the age of 55.