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5 March 2018
Retirement annuities (RAs) are long-term investments, so it would be short-sighted to base investment decisions solely on what happened in 2017. However, SA’s credit downgrades showed once again that risk cannot be eliminated, but rather needs to be managed appropriately.
When it comes to preparing for retirement, 50 is a pivotal age. At this age, most people will only be a few years away from leaving the workforce, which makes time relatively limited to save for retirement, or to recover from exposure to market downturn. That is why it is important to carefully consider your options to get the most out of your retirement savings especially during uncertain times.
With a transfer to either an RA or preservation fund you don’t pay any tax, which will enable you to continue growing your savings.