Question: When can a living annuity be commuted? If the fund value does not exceed R 1 0 0 0 0 0 and no lump sum

When can a living annuity be commuted?
If the fund value does not exceed R100000 and no lump sum taken at retirement
If the fund value does not exceed R125000 combined internally with a provider
If the fund value does not exceed R247500 and no lump sum was taken at retirement
Never

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Q:

First, complete page one of the worksheet first by closely following the directions of each question. Much of the assignment is subjective based on your own financial goals, but the math is objective...

Q:

BACKGROUND An SM bond is a 35-year Australian government bond with a face value of $1. They are marketed to consumers saving for retirement (who buy the S part) and investors (who buy the M part)....

Q:

Rennie had four different living annuity policies with the same insurer. On 7 July 2020, the values in those policies were as follows: Annuity 1: R120,000. Rennie took a lump sum of R250,000 at...

Q:

1 . Which of the following transactions would not require a fund to apply for a tax directive? Choose the correct answer. Armand takes his living annuity with a total remaining value of R 1 1 5 , 0 0...

Q:

A 44-year-old South African resident engineer works for an engineering company. The demands of his job require him to be at or near the engineering site during the construction phase of each project...

Q:

Hi. Please assist with multiple choice questions 26 - 30 as well as question 1 (written calculation question). This is based in on the South African Tax System. VAT Rate is 15%, Company Tax Rate is...

Q:

i need help from section 3 part A I have already posted this and you asked me to post under advanced option Assignment Tier 1 Financial Planning (Tier1FPPA_AS_v1A3) Page 2 of 92 Student...

Q:

Jennifer is a CERTIFIED FINANCIAL PLANNERprofessional. Her wealthiest client is Brad with whom she has been working for the past 15 years. Angelina also holds the CFPcredential. Angelina approached...

Q:

Im having trouble with question 3 part A of the attached file. I know and understand her needs but im not sure if im filling out the table correctly ? Assignment Tier 1 Financial Planning...

Q:

Ratio Analysis - Access the information contained in your selected organization?s balance sheet and income statement to calculate the following: Liquidity ratios Current ratio Acid-test, or quick,...

Q:

Given the following account balances, determine the cash paid for insurance, office supplies, and wages in 2010. 12/31/10 5,600 8,465 19,553 5,475 8947 158.570 $14,500 6,450 23,000 Prepaid insurance...

Q:

Finger Lakes Winery is a small, family-run operation in upstate New York. The winery produces. Two varieties of wine: riesling and chardonnay. Among the activities engaged in by the winery are the...

Q:

What was the status of the majority of entertainers and athletes in the Roman world? Condemned criminals Amateur aristocrats Professional slaves Amateur poor Professional poor Amateur sisves...

Q:

Can you elucidate the role of molecular chaperones and protein quality control systems in maintaining the integrity and homeostasis of the cytoplasm, particularly under conditions of cellular stress...