MANAGE YOUR MONEY BETTER WITH OUR LILUNGA RETIREMENT ANNUITY PLAN

The chapter after your career closes is not just a pause but an expansive era of life filled with possibilities, adventures, and yes, everyday living expenses. Transitioning to retirement does not mean the end of expenses; it simply means a change in how you will manage them. From the daily cup of tea to the unforeseen expenses that life may present, financial planning is your compass for navigating this new journey with peace of mind. ESRIC is proud to introduce to you the concept of a Retirement Annuity, a reliable financial companion that ensures your life’s rhythm continues harmoniously, uninterrupted by the conclusion of your working years. With expert guidance and a strategic plan, we stand ready to illuminate the path to a secure and fulfilling retirement.

What is a Retirement Annuity?

A fund into which you make a lump sum payment or purchase and in return obtain regular monthly payments, beginning immediately after your retirement.

Key benefits to you

• A guaranteed source of income for life – no matter how long you live, you get regular payments. This gives you the peace of mind to plan your life accordingly.
• Retirement Annuity expertise – your Retirement Annuity is handled by our experienced team of experts, who not only have your interests at heart but the expertise to advice in making the right decisions.

What factors influence how much you receive per month?

Capital amount invested – The annuity payments will vary depending on the amount invested.

Date of retirement – Retirement annuity rates vary from month to month, according to investment market conditions.

Age at retirement – The age at which to retire is a decision of great consequence, impacting the financial benefits you will receive. Electing to retire earlier may result in reduced monthly payments, as the distribution of your annuity must be allocated over a longer period. Conversely, deferring your retirement can lead to increased monthly disbursements due to the shorter distribution timeframe.

Escalation option – This is designed to take into consideration inflation during the period of retirement. You have the option of escalating your monthly income by 0%, 5% and 10%.

Single or Joint Life Annuity option – Under a Single-Life Annuity, you get the monthly payments and if you pass on before the end of the chosen guarantee period, the money is paid to your nominated beneficiaries for the remainder of the guarantee period. Under a Joint-Life Annuity, your spouse takes over and earns a percentage of your income if you pass on, until their time of death.

Guarantee Period – This is a timeline designed to protect your Annuity by ensuring that you do not leave a sizeable amount of capital in the event of early death. You can choose between the 5-year, 10-year, and 15-year guarantee period.

Take your time to consider your circumstances and options before deciding to purchase a Retirement Annuity. We are here to guide you through the process and offer you custom-made solutions.