Lump Sum

A lump sum payment (as the word describes) refers to a one-off payment of money.

An RSA holder upon attaining retirement age will be eligible to make a lump sum withdrawal provided that the amount left in the RSA after the lump sum withdrawal is sufficient to purchase an annuity or fund programmed withdrawals that will produce an amount which is not less than 50% of the RSA holder’s total annual remuneration at the date of his retirement.

Find out how much you could be entitled to at retirement by using the Stanbic IBTC RSA Calculator.

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