Can I transfer my RA offshore?

Given the absolutely shocking performance of local SA funds, it would be useful to know if a South African retirement annuity can be transferred to an ‘international market investment’. My local RA has done absolutely nothing for the last five to seven years; do we have to suffer the same losses going forward?

To answer your question, as a South African resident you cannot transfer or withdraw your retirement annuity before your retirement age.Once a person has formalised their financial emigration, they are eligible for early withdrawal of their retirement annuity, which allows them to access and transfer funds overseas as part of their foreign capital allowance.

Once the funds are sufficient for the minimum requirement of an offshore investment, the funds can then be invested into a direct offshore investment. Among the benefits of investing in an offshore fund are that you will have exposure to offshore stocks and protection against depreciation of the rand against other major currencies.

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