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The recent You’ve Earned It Retirement/Financial planning survey confirms that one of the most important financial considerations in retirement is an income that lasts a lifetime.

Wouldn’t that be nice. But does it sound too good to be true?

It isn’t!


A guaranteed life annuity is designed to convert your retirement savings into regular income payments for the rest of your life. This  income (or a pension) will never reduce, regardless of what happens to investment markets or how long you live.

View our infographic to find out how it works

YEI says that their survey indicates that South African pensioners are really feeling the pinch as a result of the continued trend of financial uncertainty in the world today. Because of the certainty it provides, a guaranteed life annuity is becoming a more popular solution among South African retirees, especially those who have just enough (or not enough) saved for retirement.

Types of life annuities

All life annuities are guaranteed for as long as you live, but there are also different types to choose from, based on  how you want your annuity to increase each year. This needs to be decided upfront. For example, you may prefer for your annuity to stay the same each year i.e. no increase or a fixed income stream, or to increase each year in line with inflation or by a certain percentage, or an increase that is linked to investment returns. You can also choose whether or not you want additional insurance (death benefits) so that your income will be paid to your beneficiaries if you die.

The typical types of life annuities are:

  • Level life annuity
  • Fixed-escalation life annuity
  • Inflation-linked life annuity
  • With-profit life annuity

You can read more about the types of guaranteed life annuities here.

Life annuities in a nutshell

An income for life means a regular, monthly income paid to you until your death. Or until your spouse’s death if you have a joint annuity and you pass away first. It is the ultimate peace of mind!

Annuity products have advanced over the years, and with the many options available, it’s critical to do your homework and seek the advice of a qualified financial adviser to find an annuity solution that is best suited to your individual needs. Consider your retirement journey or contact us and we can put you in touch with an independent financial adviser.

Alternatively, if you require further information on Just SA, complete the following form and a representative from Just SA will get back to you as soon as they can.


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