MyMoney Online, The Personal Finance series with Warren Ingram

How to get out of your Retirement Annuity (RA)

Does your retirement annuity (RA) suck?

The Money Show’s Bruce Whitfield interviewed Galileo Capital Personal Financial Advisor Warren Ingram and Old Mutual General Manager for Closed Products Adrian Burke for his weekly personal finance feature.

Ingram and Burke discusses the ins and outs of getting out of an RA.

Listen to the interview in the audio below (and/or scroll down for quotes from it).

This product that the listener bought is no longer on the market.

Adrian Burke, Old Mutual

There are very few cases nowadays where the penalty would go to the maximum.

Adrian Burke, Old Mutual

If you stay with the company there is no penalty applicable.

Adrian Burke, Old Mutual

Product costs should not be more than 2% per year.

Warren Ingram, Galileo Capital Financial Advisor

The most attractive option for me is to stop contributions to this RA and to start a new one at another fund manager.

Listener

Click here (then“like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter

Article brought to us by Old Mutual.


This article first appeared on 702 : How to get out of your Retirement Annuity (RA)


Recommended

by NEWSROOM AI
Read More
Retirement annuity/unit trust not doing well? Here’s what to do…

Retirement annuity/unit trust not doing well? Here’s what to do…

Have you noticed that your RA or unit trust isn’t growing much? Personal finance expert Warren Ingram has advice…

What to do if your retirement annuity (RA) sucks

What to do if your retirement annuity (RA) sucks

Are you stuck with a high-cost, lousy RA? The Money Show's Bruce Whitfield interviews Personal Financial Advisor Warren Ingram.

Want to be rich in retirement? Why it's a no-brainer to use a retirement fund

Want to be rich in retirement? Why it's a no-brainer to use a retirement fund

5 reasons retirement funds rule (compared to the alternatives), according to Corporate Consultant Erhard Theunissen.

What happens to your Retirement Annuity if your fund manager goes bust?

What happens to your Retirement Annuity if your fund manager goes bust?

Fund managers do from time to time go bankrupt. Here’s what’ll happen to your Retirement Annuity if yours does…

10 reasons why this is BY FAR the best way to save for retirement

10 reasons why this is BY FAR the best way to save for retirement

Is there a single best way to build your wealth so you can retire with dignity? Yes, there is, despite costs and limitations.

Why you need a pension fund (or retirement annuity) even if you own a house

Why you need a pension fund (or retirement annuity) even if you own a house

Many people falsely believe they do not have to save for retirement because they own the home they live in.

Popular articles
#Changemakers2018: I don't like talking about myself, but I need to - Ray Zondo

#Changemakers2018: I don't like talking about myself, but I need to - Ray Zondo

At the #Changemakers2018 conference, Deputy Chief Justice of SA Raymond Zondo spoke about the struggles he faced growing up.

News24 exposes how big SA corporates are funding fake news

News24 exposes how big SA corporates are funding fake news

A News24 investigation has exposed how some of South Africa's biggest companies have been advertising on fake news websites.

[Watch] SA choir stuns with isiZulu cover of Ed Sheeran’s ‘Shape of You’

[Watch] SA choir stuns with isiZulu cover of Ed Sheeran’s ‘Shape of You’

Khabazela shares some of the most popular tweets, posts, and videos on 'What's gone Viral'.

How Tracey Chambers is helping unemployed moms become entrepreneurs

How Tracey Chambers is helping unemployed moms become entrepreneurs

The Clothing Bank gives women access to discounted merchandise and 500 hours of training in money management and business skills.

3 emergency numbers you should have on speed dial and how they work

3 emergency numbers you should have on speed dial and how they work

These are the emergency numbers you should have on your cellphone and this is what you must understand about how they work.