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See your retirement options
before you decide.

Compare a living annuity, a guaranteed annuity, and a combination approach in plain English. See what your retirement income could look like, what the trade-offs are, and which questions to ask before you make a final decision.

Illustrative guidance only. Not personal financial advice.
Illustrative exampleillustrative
Aged 65 · R3.5m saved

What R3.5m could provide in monthly income, before tax, across the three main routes.

Living annuityflexible
Flexible income
R 18 200/mo
Guaranteed annuitycertain
Income for life
R 17 200/mo
Combinationbalanced
A floor plus flexibility
R 17 700/mo
Uses 9% growth a year and 5% inflation a year. View full assumptions on the tool.
Where are you?

Pick the entry that fits and we'll point you to the right tools and reading.

01
I'm retiring soon
Within the next 12 months

Compare a living annuity, a guaranteed annuity, and a combination approach. See how each route may affect your income, flexibility, spouse outcomes, and money left for heirs.

Compare my options
02
I'm still planning ahead
5+ years from retirement

Understand the decisions that may matter later: the routes, the trade-offs, and the questions to think about well before you have to choose.

See what to plan for
What you can do here

Real answers,
without signing up.

01
Compare your three main routes

Living annuity, guaranteed annuity, or a combination. Side by side, in plain English.

02
See what your monthly income could be

Across realistic scenarios, with assumptions you can read and challenge.

03
Stress-test your plan

Higher inflation, lower growth, frail care, longer life. See which decisions hold up.

04
Adjust every assumption

Move the sliders for growth, inflation and life expectancy, and watch your plan respond instantly.

05
Speak to a real adviser

When you want a personal recommendation, our licensed advisers run a full advice process.

06
Read clearly, no jargon

Every term is explained in plain English, right where you need it.

Your three main routes at retirement

There isn't one right answer. There's the right answer for you.

There isn't a single best route for everyone. A combination approach is another route worth comparing. The right choice depends on your spending, your spouse, and how comfortable you are with risk.

Living annuity
Flexible. You stay invested.

You decide your annual income (within legal limits). Your remaining capital stays invested and is left to your heirs. The trade-off: market risk and longevity risk are yours.

  • Flexible income
  • Capital remains yours
  • Market & longevity risk on you
Guaranteed annuity
Certainty for life.

You hand your capital to an insurer in exchange for a monthly income for the rest of your life. Optional spouse cover. The trade-off: you give up flexibility and what's left when you die.

  • Income for life
  • Optional spouse pension
  • No remaining capital
Combination
A floor plus flexibility.

Use part of your savings to secure a guaranteed income that covers the essentials, and keep the rest in a living annuity for flexibility. A combination approach is another route worth comparing alongside the other two.

  • Essentials covered for life
  • Flexibility on top
  • Lower risk of running out
Compare them with your numbers
When you want personal help

Want a personal recommendation?

A licensed PensionX adviser can run a full advice process based on your own circumstances, including your income needs, tax position, spouse pension choices, fees, insurer quotes, health factors where relevant, and long-term risks.

The website tools are illustrative. Personal advice only happens through a full advice process.

See how the advice process works →
PensionX is an authorised financial services provider (FSP No. 53753). Information on this website is illustrative guidance, not personal financial advice.
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