Retirement

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Amid discussions around early access to retirement funds – don’t lose sight of your retirement goals

27 October 2021 | General

South Africans are currently only able to withdraw or transfer their pension funds if they resign, retire or become unemployed. But recent conversations around allowing early access to a portion of retirement funds may have made individuals more aware of their retirement savings.

Retirement fund members require meaningful connection

12 October 2021 | General

Working South Africans require meaningful connections to make better financial decisions, as they are projected to retire on only 40% of their final salary. Current retirees’ starting pensions amounted to 31% in 2020, an improvement from the previous year’s 28%. This is still a long way off from what is considered ideal.

New generation solutions breathe new life into SA retirement industry

12 October 2021 | General

While annuity solutions have been the primary source of retirement income for South Africans for decades, they tend to receive criticism for not keeping up with the evolving retirement landscape. Yet the local annuity market has undergone considerable change in recent years to address the increased risks faced by retirees and to cater for their individual needs.

Actuarial model shows that NTs two-bucket system is likely to triple future pensions

07 October 2021 | General

Actuarial modelling by the Retirement Matters Committee of the Actuarial Society of South Africa (ASSA) suggests that National Treasury’s “two-bucket” proposal is likely to result in significantly higher monthly retirement income for pensioners by allowing future retirement savings to benefit from the power of compounding.

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