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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.
Decisions around retirement saving solutions need to be holistic, with costs being one of the important elements to consider, alongside return potential and softer aspects like service and communication.
Conversations around retirement can be touchy. While many clients are on track to reach their retirement goals, many others have had to face a number of challenges along the way.
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.
The strongest deterrent against FSP compliance missteps is or should be: