Tracy Posted November 7, 2012 Report Share Posted November 7, 2012 Cash Kows have been mentioned before here but I'd just like to add my voice to the comments about them.I hadn't considered anything about this aspect of emigration; I had nothing financial to bring with me! But when my Dad passed away I realised I could be in a pickle with certain things down the track.They are a fantastic company to deal with.Honest, understanding, up-front and genuine; traits which are hard to come by in today's world.They led me through the whole process and I had very little to do.Once the paperwork was with them, I had my SARB and SARS clearances in a matter of weeks!My first contact was with Pieter Muller and he was so helpful.If anyone is confused about this process or needs assistance, I would highly recommended them.Have a great day! 1 Quote Link to comment Share on other sites More sharing options...
AlBrough Posted November 8, 2012 Report Share Posted November 8, 2012 thanks for the info Tracey Quote Link to comment Share on other sites More sharing options...
OubaasDik Posted November 8, 2012 Report Share Posted November 8, 2012 Heard good things about them elsewhere as well. Quote Link to comment Share on other sites More sharing options...
bbop Posted November 8, 2012 Report Share Posted November 8, 2012 Hi Tracey,I'll second you on their service. We are also making use of their services and so far they are excellent. With the changes to the retirement funds that could come into effect soon, we are so glad we got the ball rolling awhile ago already. Quote Link to comment Share on other sites More sharing options...
Sharon Posted November 8, 2012 Report Share Posted November 8, 2012 What are the changes that may happen? 1 Quote Link to comment Share on other sites More sharing options...
Hugo2 Posted November 8, 2012 Report Share Posted November 8, 2012 http://www.cashkows.com/freshmilk/2012_November/1.aspWe highlight the changes in Fresh Milk or go to www.cashkows.com Quote Link to comment Share on other sites More sharing options...
Hugo2 Posted November 8, 2012 Report Share Posted November 8, 2012 What are the changes that may happen?Herewith an easy summary but deadline for comment is 30 Nov 2012http://www.cashkows.com/freshmilk/2012_November/1.aspFor the more technically minded:http://irf.org.za/uploads/files/IRF_DAILY_-_Wednesday,_07_November_2012.pdfhttp://www.treasury.gov.za/comm_media/press/2012/2012100403.pdf Quote Link to comment Share on other sites More sharing options...
GideonVD Posted November 8, 2012 Report Share Posted November 8, 2012 I would definitely like to take my entire RA out with me to Oz.So when the time is right, I'll be contacting these guys for sure Quote Link to comment Share on other sites More sharing options...
Guest May Posted November 8, 2012 Report Share Posted November 8, 2012 Please can someone tell me what this means in a nutshell? Quote Link to comment Share on other sites More sharing options...
MrsMupersan Posted November 8, 2012 Report Share Posted November 8, 2012 I can definitely second Tracy's post. Cashkows were so professional and they made the whole process so easy. Can't recommend them highly enough. 1 Quote Link to comment Share on other sites More sharing options...
GideonVD Posted November 9, 2012 Report Share Posted November 9, 2012 (edited) Please can someone tell me what this means in a nutshell?Basically, Government and National Treasury are trying to limit the ways you save and invest money during your pension time. In effect, they want control over your money. Edited November 9, 2012 by GideonVD Quote Link to comment Share on other sites More sharing options...
StevePorter Posted November 9, 2012 Report Share Posted November 9, 2012 Hi All,Just to throw a little more light on this issue..............current pension legislation causes Treasury in SA a major headache as the options available in retirement allow people to determine how their pension funds are invested and at what rate they can be drawn, i.e. a living annuity.The problem with this is that many people draw a high or the maximum level of income and "exhaust" their pension fund quickly thus rendering them a financial burden on the state and the levels of tax revenue are not adequate to fund such. As a result, Treasury is proposing to limit the options and technically "force" people to invest in a "life annuity" in retirement, which is a different vehicle altogether. This provides you with an income for the remainder of your life, the level of which is based on mortality rates and other factors.This is obviously not good news for emigrants for a number of reasons:1. You will not be allowed to select your income level, i.e. you cannot simply exercise the maximum and transfer the full value of your retirement fund over the shortest possible period of time. Currently with a living annuity you can draw at a maximum rate of 17.5% per anum meaning that the total capital value is transferred over a period of +/- six years. The life annuity provides you with no such option as the income level is fixed over your lifetime.2. A living annuity always has a capital value which will benefit your spouse or nominated beneficiary upon your death. At retirement you will relinquish your capital investment in return for an income for life, the level of which is determined by a number of factors over which you have no control.3. With income from a life annuity your exposure in terms of foreign exchange and inflation risk is increased.It is expected that reforms, if implemented will come hard and fast. If this is indeed the case it is advisable to investigate the current options available to you without delay because if you reach retirement without taking any action then you will be forced down a specific route out of which you cannot reverse. The early surrender option for those holding RA’s is perhaps something to consider although you should speak to a specialist in this area before taking such action.If you happen to be receiving a pension from a South African source living annuity already you may be interested to know that cashkows.com is currently lobbying on your behalf to facilitate the full surrender of such……so watch this space! Or better still register with us so that we have your details and can keep you informed.Please feel free to contact us if you have any questions in relation to the above….we’re happy to help.RegardsStevecashkows.com Quote Link to comment Share on other sites More sharing options...
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