What is Max Income Composite Annuity?Old Mutual's Max Income Composite Annuity combines the features of a living annuity and a guaranteed annuity. It ensures that you receive an income for life, protecting you from outliving the money you have for retirement. And it lets you keep a portion of your money invested in the markets. There's also the opportunity to leave part of your investment to your beneficiaries.
- Guaranteed income for life
- Your living annuity portion is invested which means it has the potential to deliver inflation-beating returns - which can help boost your retirement income
- You are able to leave your "living annuity" portion to your beneficiaries
- One income payable into your bank account
An accredited Financial Adviser will help you determine the split after considering the various factors resulting from a financial needs analysis.
You won't be able to transfer from Guaranteed Annuity to Living Annuity but you can transfer the other way round.