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South Africans could pay more to bury loved ones

06 July 2016 | Funeral Cover

With food prices continuing to increase, rising fuel prices and high electricity tariffs - South Africans could see the average cost of burying a loved one rising significantly in the short-term.

Why SA needs to build a stronger savings culture

05 July 2016 | General

According to the 2016 Global Consumer Survey (GCS) issued by the Financial Planning Institute of Southern Africa (FPI), only 27% of South Africans believe that they are knowledgeable about finance and financial matters. However, 74% of South Africans consider building a savings plan to be a top priority. This highlights how strong the barriers that are preventing consumers from saving really are.

Don’t save for retirement (just yet): Rethinking South Africa’s employee benefits model

05 July 2016 | General

Alexander Forbes says it does not believe the internationally accepted, decades-old employee benefits model which places a singular focus on compulsory retirement savings as top priority, is relevant for the current financial needs of South Africans.

Poor financial literacy holds back many South African savers

05 July 2016 | General

Encouraging a savings culture in South Africa is one of the key goals set out by the National Treasury, and it has put in place many measures to make it easier for citizens to save. However, the country’s overall savings rate remains quite poor, even compared to other emerging markets.

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Question

What can retirement funds do to improve client-adviser engagement during members’ employment years?

Answer

Advice at onboarding Annual adviser check-ins Meet-an-adviser workshops Offer advice at life-stage events

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