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Despite the tax benefits on retirement contributions and the tax free growth, the fact that pension income benefits are ultimately taxed has led people to question whether saving in a retirement fund really is better than making your own retirement savings arrangements with after-tax earnings.
Retirement fund trustees often ask us how it is possible for every investment manager pitching for business to claim to be the top performing manager or that they have consistently outperformed their benchmark for all reporting periods over the past 10 years.
According to popular adverts making the rounds on TV and radio the first person to live to 200 has already been born. Whilst this may seem a bit unbelievable, the advances we are seeing in medicine and diet, plus the adoption of much healthier pastimes and exercise regimes, has definitely led to longer life expectancies.
Given the volatile nature of local markets in recent years, smooth bonus funds have increased in popularity among South Africans seeking a more stable ride to retirement. This most likely shows that South Africans, especially those who are most vulnerable, are opting for all the protection from market volatility that they can get.
Do you think short-term insurance broking will survive the AI plus humanoid robotics age?