Retirement Annuity

What is the maximum I can contribute towards a retirement annuity?


Question on retirement annuities and tax I am contributing 5% of my gross income to a company pension fund with Momentum (compulsory min investment for an employee). Assuming I receive no other income and did not get a bonus, how much can I contribute to a retirement annuity (would it be the 10% of my gross income for a total of 15% towards retirement savings)? Please assume that I earn R500 000 gross income per year before deductions, and the only deduction being for the company pension fund. Thanks a lot Chris


Retirement Annuity contributions are tax deductible under S11(k) of the income tax act. Contributions are deductible to a limit of 27.5% of taxable income, capped at an annual limit of R350 000. Contributions in excess of the annual limits will be rolled over to future years.

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.