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With life expectancy in South Africa on the rise, it has become increasingly important for investors to reconsider their investment approach at retirement to ensure they are able to live out their golden years in comfort.
The insights provided by the results of this year’s Sanlam Benchmark Survey once again present the market with a wealth of valuable information about everything relating to retirement. Previous surveys’ results also allow us the opportunity to recognise any trends and shifts in the behaviour of individual members and pensioners.
According to the inaugural Old Mutual SME Employee Benefits Monitor 2015, the vast majority of South Africa’s small and medium enterprise (SME) decision makers (79%) and staff (90%) believe that the company should be making the provision of retirement funding to staff a business priority.
What is the cost of your retirement? Knowing this number is a critical part of the retirement planning process. If you don’t find out, then you will not be able draw a savings plan that has a high probability of meeting this target, or to monitor your progress, and take corrective action when necessary.
Do you think short-term insurance broking will survive the AI plus humanoid robotics age?