Retirement annuity

What are the consequences of canceling my retirement annuity?


What will happen if, due to unemployment and still being under the age of 55 years, I decide to cancel my retirement annuity policy?


If you cancel the policy before the maturity date (normally in the year you turn 55), the policy will be made "paid-up". You may incur an early termination charge (an accelerated recovery of upfront fees), although the closer you are to the maturity date, the lower this should be. Your money will stay invested as before. You will have to wait until you turn 55 before you can claim your retirement annuity, at which point you will have to use two-thirds to buy an annuity.

How 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.