In this short video, our resident South African Tax Expert, Marisca, and South African Financial Planning Specialist, Michael, discuss the considerations that South African expats need to make regarding their South African retirement products.
The 4 questions covered in this Q&A session are:
1) What are the steps required to withdraw your South African retirement funds in full?
2) Explaining the changes that have come into play as of the 1st of March 2021 around the annuitisation of provident funds? (vested and unvested rights)
3) Have these changes effected the process in question 1?
4) As a non-resident who has emigrated, is there any difference in the levels of taxation when withdrawing my retirement funds before or after the age of 55? (differentiation between pensions, retirement annuities, and provident funds)