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More than a decade after tax-free investment accounts were introduced to encourage South Africans to save, Old Mutual believes the time has come for the government to refresh the limits to reflect today’s economic realities and meaningfully improve long-term financial and retirement outcomes.
In South African retirement saving, there was a before September 2024 world and an after.
As Africa grapples with an estimated $170 billion annual infrastructure financing gap, pension funds are being increasingly recognised as key players in addressing this challenge. With their long-term investment horizons, pension funds are well-positioned to finance critical infrastructure projects across the continent, unlocking growth while generating sustainable returns for members.
Most South Africans used their pension, provident, and retirement annuity (RA) funds to save towards their retirement.
The big-picture theme causing you and your clients the greatest concern is: