Calculating and paying taxes is burdensome at any stage of life, but even more so when you are on the cusp of retirement. At this important junction in your life, a bad tax decision could cost you money, both in unnecessary expenses and by lowering the amount of money left in your pension fund to grow and look after you for the next decade or three.
When you get ready to retire, you should keep in mind that different tax rules apply to different types of investments and withdrawals. For instance, you can withdraw a third of your pension, pension preservation or retirement annuity fund when you retire, and 100% of your provident or provident preservation fund...
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