Have a plan on how to retire comfortably
At RandLife, we want you to enjoy the comfortable retirement you deserve, achieving your goals and living a fulfilling life.
Our expert team will assess your financial situation, estimate future expenses, and develop a savings and investment strategy to build the necessary retirement funds.
We believe every retirement plan is unique. We’ll help you create yours with a variety of options, ensuring the best outcome for you.
What is Retirement?
Retirement refers to the phase of life when an individual decides to permanently leave the workforce. This significant transition marks the end of one’s professional career and the beginning of a period focused on personal pursuits and leisure activities.
The Aim of a Retirement Plan
Maintaining a Retirement Plan
Because you are not growing any younger.
Retirement planning is the process of identifying one’s financial and lifestyle goals for retirement and developing a plan to achieve them.
At RandLife we are capable of answering the following questions for you to ensure a fulfilling retirement lifestyle:
Helping You Plan, Save, and Manage Money Before and After Retirement
How you manage your investments during retirement is critical to ensure that your retirement savings meet your needs.
Life or living annuities are post-retirement plans that you purchase when you are ready to retire. These products allow you to re-invest your money post-retirement and select the income you want to receive.
Living annuities provide flexibility with potential capital growth and your able, but require active management and there’s no capital preservation. You must withdraw a pension from your investment every year. This is called draw-down and must be between 2.5% and 17.5% of the yearly value of the residual capital on the policy anniversary date. Living annuities do not guarantee an income for life.
Life annuities offer fixed income for life (they are commonly used to provide guaranteed and/or supplemental retirement income that cannot be outlived and you can purchase a rider preservation of capital for your legacy). A life annuity, once enacted, is not revocable.
Our experts assist you in deciding which option suits your financial goals and lifestyle. We consider your unique circumstances, making this significant retirement decision less stressful.
At RandLife we help you figure out and demystify these funds, our expert financial planners will sit down with you to give expert advice.
A pension/provident fund is a retirement fund that receives frequent contributions (usually monthly) from you and your employer. At retirement, you can access up to one third of the benefit in cash, and the remaining two thirds must be used to purchase an income annuity.
A preservation fund is specifically designed to receive lump sum benefits from a pension or provident fund when you resign from your employment before retirement. While the funds are in the preservation fund, the capital continues to grow. You can make one partial or full withdrawal from the fund before you reach age 55. After that, you can only access the balance after age 55.
With a retirement annuity (RA), you also make monthly contributions, usually via debit order, but this is completely independent from your employer. You can choose the funds you want to invest in within the limits set out by the retirement fund regulations. These funds are called Regulation 28 funds.
At RandLife we offer you expert advice on what solutions are available when it comes to retirement annuities.