The Retirement Annuity Plus Policy is a recurring or single premium retirement annuity policy. This policy offers the facility to save a lump sum, which can be used to buy an income during retirement.
• No surrender or Partial Surrender withdrawals are allowed on a Retirement Annuity policy.
• On retirement date, 1/3 of the money will be paid out - tax free, while the remaining 2/3 will be utilise to purchase a retirement annuity.
• Tax Advantage: In Namibia the full capital value at retirement may be taken as a tax free lump sum amount if the capital value is less than N$50 000. Otherwise up to 1/3 of the capital value may be taken as a tax free lump sum amount.
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