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Given South Africa’s enormous infrastructure backlog and urgent need for additional funding, the Batseta Council of Retirement Funds recently partnered with the Gauteng Department of Human Settlements to convene its first infrastructure development workshop for pension fund trustees.
Many trustees are establishing default annuity strategies which inadvertently set up their members for failure by giving them little to no guidance about the sustainability of their income in retirement and by not providing an option to secure a guaranteed Lifetime Income.
With the end of the tax year fast approaching, investors who are saving for retirement through their employer’s umbrella fund have until 28 February to maximise the annual tax incentives the government has put in place to encourage South Africans to save.
When we think of our Golden Years, we like to imagine ourselves living comfortably, financially independent, being able to enjoy the simple daily things but also possibly travelling, picking up a hobby and so on. The sad reality is that many retirees in South Africa are struggling to meet the basic monthly expenses.
Do you think short-term insurance broking will survive the AI plus humanoid robotics age?