'Governments intentions with the pension fund amendments are ominous' - Magnus Heystek

Brenthurst Wealth Management co-founder and Wednesday's regular BizNews co-host - the hard hitting Magnus Heystek gives us the ugly truth about retirement annuities. Worse, the government have made amendments to the regulations that make it troublesome to access your pension in the event of emigration. Heystek says he rarely advises retirement annuity like products to his clients, due to its illiquidity as a financial instrument. He also lambasts the front that many of South Africa's largest financial institutions put on when it comes to the tax benefits of these products, outlining that the benefits simply do not outweigh the costs. Learn more about your ad choices. Visit megaphone.fm/adchoices