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Early Xmas gift for many older people

13 October 2006 Fundi Communications / IntegriSure

The increase in the interest rates is not bad news for everyone. When interest rates fell, people said its good news. There was very little sympathy then for the thousands of older people whose livelihood depends on a good interest income.

"We live in a society that cares little for the elderly who have worked and saved for an entire lifetime. For them, higher interest rates are very good news, and an early Xmas gift."

That's according to IntegriSure's managing director, Arnold van der Linde.

There are more than 1,2 million people in South Africa who are older than 50. Many of them are retired and depend on interest from investments in order to live meaningful lives. The increase will put many older people back in the same financial position that they were in two years ago, just before we were hit by one interest cut after the other. These dramatically reduced the monthly disposable income of thousands of older people.

'We are glad we could make a small and modest contribution with a few initiatives that helped older people to stretch their rands and cents.' Van der Linde is referring to a savings booklet that contains many ideas about how to save money. IntegriSure is making copies of the booklet available free of charge to people over 50. The booklet can be obtained by calling 0860 055 055.
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