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Perhaps the biggest lesson of the COVID-19 pandemic is that our world is unpredictable. No matter how much effort we put into planning and forecasting, there are always some uncertainties. Insurance plays that key role to guard against the risk of the unexpected.
South Africa’s savings culture – or lack of it – is well-documented.
Of the three million jobs lost in early lockdown – between February and April 2020 – two-thirds (2 million) were held by women. Now, over a year into the pandemic, the recently released Old Mutual Claim Statistics Report reveals that 58% of 2020 retrenchment cover claims were paid out to women, confirming that the economic impact of Covid-19 hit working women harder than it did working men.
What can retirement funds do to improve client-adviser engagement during members’ employment years?