AT MATURITY ON 1 FEB 2025
This is where you will find the amount that you will be entitled to collect if you are still alive on the expected retirement date (= age 65).
Entitlements:
How much will you collect on your retirement date?
If you deducted your premiums from your taxes and the plan was taken out:
before the age of 55:
- A tax of 10% will be withheld from the amount specified at the age of 60.
- Once you turn 65, your proceeds will no longer be taxable.
after the age of 55:
- A tax of 10% will be withheld on the 10th anniversary of the plan. No further taxes will then be due on your proceeds when they are paid out on the maturity date.
- Or if you cash out of the plan prior to the 10th anniversary, the tax rate will be determined based on your age at the time of the surrender.
If you have not deducted your premiums from your taxes:
- You will collect the amount shown. No deductions will be made, i.e. the gross amount will be the net amount.
N.B.: this amount may change if the premium is revised.
Accrued profit sharing:
An additional return awarded by AG on top of the guaranteed return.