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In today’s ever-changing finance industry, there is a growing need for innovative ways to ensure that people are adequately prepared for a comfortable retirement. Research shows that as little as 6% of South Africans can afford to comfortably retire at the age of 65.
One of the questions we ask ourselves most is how much do I need to retire comfortably?
Most employees are handed the enrolment forms for their new employer’s retirement fund on their first day at work. If they are lucky, they may also receive a member booklet and be referred to a website for more information on their retirement fund. Seldom are they given any more information on the topic as their new job is regarded as being the priority.
The increased availability of advanced medical care, extensive health education and increased awareness of a healthy lifestyle are just some of the factors that have resulted in an improvement in retirement longevity.
The strongest deterrent against FSP compliance missteps is or should be: