Since March 2016 all Retirement Funds (i.e. Pension, Provident, RA) conform to the same set of rules i.r.o:
- Using Taxable Income vs. Remuneration as a basis for the contribution calculation (for tax purposes);
- Contributions/Contribution Limits
- annual contribution allowable to ensure tax benefit;
- What happens when there is a withdrawal
- pre-retirement or post-retirement?
What happens at/post-retirement age re:
- One-third withdrawal – the tax implications;
- Two-thirds investment – a legal requirement;
- The di minimis value – when there is an asset value that does not warrant staying in the fund (i.e. the value diminishes over time);