Retirement Annuity – Legal Fundi

Consumer Law > Insurance > Retirement Annuity

Retirement Annuity

Investment Insurance

Short-Term Assurance

What is Insurance?

Retirement Annuity

A retirement annuity is money that a person pays to the insurance company which cannot by law be touched until they stop working due to old age (55 years minimum). The amount that is paid out becomes your pension. They can only take a third in a cash lump sum. The rest is used to pay a monthly pension.

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