Is there a downside to taking your pension on a monthly basis vs. taking a lump sum ... to be a substantial sum of money, it’s often very inefficient to take the tax hit in one big chunk.

like paying more tax or even losing access to benefits. “For anyone considering taking a lump sum from their pension, there’s free support and guidance available, but as our research has shown ...

Retirement fund. In South Africa, all retirement funds are regulated by the Pension Funds Act, though they differ in ...

Good to know: If you withdraw your pension as a lump sum, you will pay less tax. What is the combined option and what do I need to know? As the name suggests, you receive some of your savings as a ...

Some 21 per cent withdraw money from their pension pot as soon ... in order to stay within the tax-free allowance. While some 32 per cent of people who took a lump sum from their pot said they ...

The payout amount is influenced by life expectancy: shorter life expectancies result in larger payments, while longer life expectancies lower the monthly amount. If you live longer than expected, you ...

This can reduce the amount of tax payable on your withdrawal. A question I often get asked is, “If I don’t take a lump sum in cash at retirement, what happens to my excess retirement fund ...

This funded pension scheme now offers access to low ... and exempt at the time of withdrawal (EEE). Since the lump-sum was tax-exempt, its withdrawal in stages should make no difference to its ...

Here are the key differences between tax-free savings accounts and retirement annuities to make an informed choice for your ...

The below table shows how three investors paying different income ... Your beneficiaries can take the whole pension fund as a lump sum tax-free. If you die after age 75. Your beneficiaries have three ...