The world is changing fast and to keep up you need local knowledge with global context.
Pundit Poser gives you the reader the opportunity to ask any finance questions, which will be answered by guru Candice Paine. Please email [email protected], use twitter or as Fred did, visit the Facebook page. Biznews community member Fred Press has relocated back to the United Kingdom. He wants to know if he’s able to take his Living Annuity with him. Our colleague, financial planner and go-to expert on personal finance, Candice Paine, took a look. Candice is a CFA who left the corporate life to work for herself and help her clients weave their way through the financial planning maze. – Stuart Lowman
Candice Paine: Unfortunately this is true. If you have a living annuity, your capital is trapped in South Africa after emigration. You are able to repatriate the monthly payments to the UK. One solution to this may be to speed up the rate of withdrawal from the living annuity, but this may attract an increase in income tax and have certain investment risk implications. You would need to consult with a financial advisor if you are to make changes to the existing living annuity.
Have a look at this article from the 10x Blog. No use saying it all again. They have explained it brilliantly.
Cyril Ramaphosa: The Audio Biography
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