South African Retirement Annuities

South African Retirement Annuities

McKinley Plowman can assist you with cashing in your South African retirement annuities.

Did you know that you can now take advantage of a change to the Income Tax Legislation in 2008, which allows you to encash in full your retirement annuities that you contributed to prior to leaving South Africa?

At McKinley Plowman we can assist South Africans living abroad to cash in their retirement annuities and repatriate their funds to a destination of their choice. We work in conjunction with a team of specialist tax, financial and administrative individuals who engage with SARS, the Reserve Bank, the insurance companies and the SA Banks.

Some benefits of encashing your retirement annuities are:

  • Full access to cash that would normally be locked-in until retirement.
  • Avoid waiting until your maturity date to encash one third (1/3) only.
  • Avoid exchange rate fluctuations.
  • Reinvest funds, as superannuation drawdown is tax exempt in Australia.
  • Your money will be banked in a politically and financially stable country.

Please note that encashment is an extremely complex process and individuals must provide proof of both their entitlement to reside in Australia and formal emigration from South Africa. Formal emigration from South Africa can be carried out retrospectively and does not mean you will lose your citizenship.

We can arrange a comprehensive no obligation FREE report detailing the amounts available for encashment from your retirement annuities and other insurance policies.

We are perfectly placed to provide a simple solution to a complex situation.To speak to us about South African retirement annuities in Perth, make an appointment now.

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