The 411 on retirement annuity

Many people are attracted to the tax break of investing in retirement annuities without thinking of the long-term consequences.

This is according to Wayde Hiller-van Rensburg, President of the Institute of Retirement Funds Africa (IRFA).

The big thing with retirement annuities are that they try to help people to not spend that lump sum when they get to retirement

Wayde Hiller-van Rensburg, President of the Institute of Retirement Funds Africa (IRFA)

Hiller-van Rensburg spoke to #NightTalk's Gugs Mhlungu and Sizwe Dhlomo on 702, about the value of investing in retirement annuity.

The biggest selling point that people will get when someone tries to sell you the product like a retirement annuity, they are going to tell you you're going to get money back when you do your tax return

Wayde Hiller-van Rensburg, President of the Institute of Retirement Funds Africa (IRFA)

Describing retirement annuities as a popular form of long-term investment, Hiller-van Rensburg, says that when people invest in retirement annuities, they should do so with a plan of what they are aiming to save for in retirement.

The big things to consider is that you have different types of pension savings and retirement annuities are the ones you can take out in your personal capacities

Wayde Hiller-van Rensburg, President of the Institute of Retirement Funds Africa (IRFA)

Listen to the conversation below:

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