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Retirement Annuity

Retirement Annuity

An annuity is a continuing payment, with a fixed total annual amount, coming from an annuity contract or agreement whereby inbound monthly contributions were made prior to a specific date (in terms of the contract).

A retirement annuity will start to pay out fixed payments back to the investor for a lifetime, at the date of retirement. The date is normally pre-determined in the contract.

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