Review of the Amethyst Living Annuity from Everest Wealth

A living annuity is a retirement investment product that allows retirees to receive regular income payments while keeping their investments in the financial markets. The Amethyst Living Annuity, offered by Everest Wealth, provides flexibility in terms of investment choices and income withdrawal rates. This blog post will delve into the details of the Amethyst Living Annuity, its features, benefits, and answers to some common questions.

Everest Wealth has tackled one of the biggest concerns for retirees—the fear of running out of money. The new Amethyst Living Annuity offers higher returns than previous annuities, ensuring consistent income and capital growth.

People about to retire

People already drawing income from a living annuity looking for something better.

Flexibility

The Amethyst Living Annuity allows you to specify the income you want to receive, ranging from 2.5% to 17.5% of the value of the annuity policy per annum. This drawdown limit can be adjusted once a year as per annuity rules. The product perform best with income choices below 10%. The product does not suit drawdown rates above 14%

Select your income

You can select how often you receive your income, with options for monthly, quarterly, bi-annual, or annual payments. This frequency can also be adjusted once a year during policy reviews.

Withdrawals

Withdrawals from the annuity policy are generally not allowed, except in cases where the policy value is below the legislated minimum amount of R125,000, allowing for a full withdrawal subject to income tax.

Tax Benefits

Income tax is deducted from your annuity income before it is paid out. However, to promote greater growth, no tax is levied on returns earned within your living annuity, such as interest, dividends, capital gains, or Real Estate Investment Trusts (REIT) tax.

In the Event of Death

Should you pass away, any remaining money in the annuity policy will be paid to your nominated beneficiaries. If you have not nominated any beneficiaries, the remaining balance will form part of your estate and be subject to estate duties and executor's fees.

To invest in the Amethyst Living Annuity, you can transfer your existing living annuity from another provider to Everest Wealth. This process is straightforward, and you can consolidate savings from different retirement and preservation funds into a single Amethyst Living Annuity.

Investment Period

The investment period for the Amethyst Living Annuity is a minimum of five years with no maximum term, providing long-term security and growth potential.

Inflation Protector

One of the standout features of the Amethyst Living Annuity is the Inflation Protector, which offers an additional return of 9% of your original investment capital, paid at the fifth anniversary of transfer or retirement.

Consistent Returns

Everest Wealth has tackled one of the biggest concerns for retirees—the fear of running out of money. The new Amethyst Living Annuity offers higher returns than previous annuities, ensuring consistent income and capital growth.

How do I invest in the Amethyst Living Annuity?

To invest in the Amethyst Living Annuity, contact your financial advisor or visit Everest Wealth's website. You can also transfer your existing living annuity from another provider.

How long is the Amethyst Living Annuity investment term?

The investment period has a minimum of five years with no maximum term, offering long-term investment flexibility.

Can I transfer my existing living annuity from another provider to Everest Wealth?

Yes, living annuities are transferable between providers, allowing you to switch to the Amethyst Living Annuity seamlessly.

Why is the new Amethyst Living Annuity return higher than previous annuities?

The higher return is due to the Inflation Protector and more favorable returns from Everest Wealth's investment strategies.

Does the return on the Amethyst Living Annuity fluctuate?

Yes, returns can fluctuate annually. However, Everest Wealth has consistently delivered stable returns over the last nine years.

What tax will I pay?

You will pay tax on the monthly income you receive based on your marginal income tax rate. All growth within your chosen investment portfolios is tax-free.

Can I add money to my Amethyst Living Annuity?

Only savings from other retirement funds can be added to your Amethyst Living Annuity. You may combine savings from different retirement and preservation funds into a single annuity.

The Amethyst Living Annuity by Everest Wealth offers retirees a flexible, reliable investment solution with competitive returns and beneficial tax structures. Whether you are looking to invest your retirement savings or transfer an existing annuity, the Amethyst Living Annuity provides a comprehensive, secure option to ensure your financial stability in retirement.

For more information, contact your financial advisor or visit Everest Wealth at [everestwealth.co.za](https://everestwealth.co.za) or call 087 654 8705.

or Contact us at AS Brokers

Albert Schuurman