Get a Retirement Annuity Out

You may have the ability to turn a retirement fund into cash prior to the maturity date and transfer the cash offshore. Most migrants do this to consolidate their retirement funds in one place (in their current country of residence).

Many people also choose to get their retirement funds out to remove currency risk (long term Rand depreciation), and to avoid being obliged to purchase a South-African annuity (payable into a South-African bank account) at retirement.

Steps:

1. Talk to us about the policies you want to redeem.

2. Completion of documentation for submission to SARS, the SARB, and your authorized dealer.

3. Open a blocked account to house your funds prior to offshore transfer.

4. Redemption of your policy with Assurer / Investment Manager.

5. Transfer proceeds to your account offshore.

This is commonly referred to as ‘Formal Emigration’, and is an administrative process that involves correspondence between multiple entities.

The role of MyGlobalCFO is to help expedite this process.

You may have the ability to turn a retirement fund into cash prior to the maturity date and transfer the cash offshore. Most migrants do this to consolidate their retirement funds in one place (in their current country of residence).

Many people also choose to get their retirement funds out to remove currency risk (long term Rand depreciation), and to avoid being obliged to purchase a South-African annuity (payable into a South-African bank account) at retirement.

Steps:

1. Talk to us about the policies you want to redeem.

2. Completion of documentation for submission to SARS, the SARB, and your authorized dealer.

3. Open a blocked account to house your funds prior to offshore transfer.

4. Redemption of your policy with Assurer / Investment Manager.

5. Transfer proceeds to your account offshore.

This is commonly referred to as ‘Formal Emigration’, and is an administrative process that involves correspondence between multiple entities.

The role of MyGlobalCFO is to help expedite this process.