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Average living annuity drawdown rate falls in 2022
Asisa says it is encouraging that the 2.5% to 5% drawdown rate made up the biggest income band by number of policies.
Conventional wisdom says that living expenses rise uniformly with inflation, so many financial plans are based simply on that. But analysing the spending patterns of retirees shows us that the data tells a different story.
Read moreAsisa says it is encouraging that the 2.5% to 5% drawdown rate made up the biggest income band by number of policies.
The barriers to uptake include affordability, inappropriate distribution models, and lack of product knowledge, Treasury says.
National Treasury will introduce the COFI Bill ‘very soon’ and amend the Financial Markets Act to tighten regulation of the country’s financial markets.
Lessors that invest in qualifying assets that are leased to lessees under operating or finance lease arrangements will be able to benefit from the incentive.