Benchmark living annuities
When reaching retirement age (depending on the rules of your current retirement fund), you can invest your fund credit in an investment linked living annuity in the Benchmark Retirement Fund to receive your monthly pension.
You can join Benchmark Retirement Fund on retirement. You do not already have to be a member of the Fund at that stage.
The monthly pension can be chosen by you, taking the requirements of the Income Tax Act into account. The monthly pension will be a function of the amount of capital available, the investment returns earned and the period for which you require a monthly pension.