Momentum
Annuity cannot be changed

Just yesterday i have requested a quote to raise my retirement annuity. I have been told that since this policy as been going on since 2006 it can not be changed, and that i need to take out another policy if i want more income when i retire. My problem with this is that i do not want 2 or more policies, because if i retire and i have 2 or more different income, SARS is going to take me down. If i am going to receive say for instance R4000 from two different policies, then Momentum (Metropolitain) will not deduct PAYE, but sars will at year end see me earn R8000 and would want paye. I am not happy, and seeing that i am now only 30 i still have a good couple of years to save for my retirement and now i am feeling very depressed that i will not be able to settle down good.
(Supplier name changed from Momentum Retirement Administrators to Momentum by Hellopeter.com)

Company: Momentum
Country: South Africa
City: Brackenfell/cape town

  <     >