Among the many issues that have come up during Covid, is the conflicting debate around the real benefits of investing in a retirement annuity . Many detractors argue that the tax payable on the subsequent compulsory annuity income negates the tax deduction benefits of RA contributions. Numbers, however, don’t lie – and this analysis serves to show the unmistakable benefits of investing in a retirement annuity.
As Boipelo is age 65 at retirement, she only pays tax on the amount over R11 262.50 per month. Taking her objectives into account, Boipelo would need to draw R68 750 pre-tax in order to receive an after-tax income of R50 000 per month in today’s terms from her investments. Sam has less invested capital than Boipelo, and in order for his capital to support an income until age 100, he would only be able to draw R42 000 per month as a post-retirement income in today’s terms, increasing annually at a rate of 5%. We have assumed that Sam’s portfolio is structured in order to minimise paying tax on interest earned, dividends tax and capital gains tax .
crueinvest These case studies were developed in Narnia. R15k to save every month? Who and where are these South Africans?
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