A retirement annuity (RA) is a personal retirement savings vehicle which allows you to save for your retirement in a tax efficient manner.
The EasyEquities RA account which you use to invest in is registered with the Financial Sector Conduct Authority and the registration number allocated to it by the FSCA is 12/8/38189. Your RA is also registered with the South African Revenue Services to ensure that you may claim your contributions in this account at the end of each tax year.
There are no minimum or maximum contribution amounts in your EasyEquities RA, however only up to R350 000 is tax deductible each year.
After age 55, if you feel that you have saved enough for your retirement you can retire and start living off your accumulated savings by moving to a living annuity. A living annuity is a financial product that pays you a regular income.