There are different annuity income options each with a different income outcome from which you must choose when you purchase an annuity with the compulsory two thirds money from retirement funds. This webpage gives you an indication of how the annuity income option you select will influence you monthly pension income amount, expected term of payment and guarantees associated with the different options. The underwriters calculate the different conventional / guaranteed life annuity rates on a weekly basis. The annuity rates are mostly dependent on current interest rates and your life expectancy on the day that you purchase the conventional / guaranteed annuity. The amounts illustrated below is the average amount you will receive if you compare the different annuity rates from the big brand annuity product providers in South Africa for a male in the week as indicated.
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examples of different annuity options

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