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Defined Contribution vs Defined Benefit Pension Plans and New Generation CDC Plans: What the US can learn from SA
When it comes to saving for retirement, the biggest detractor of value is cost.
Most commentators agree that South Africa is facing a retirement crisis, with only an estimated 6% of South Africans in a position to retire in financial security. However, says Alex Cook, CEO of GCI Wealth, it is possible to buck the trend and actually retire early with a secure and adequate income.
Sixty five, that is the line in that sand that government has handed down to retirees. At this age, retirees should be making plans to enter the second phase of their lives in order to create space for a younger, dynamic workforce.
If you had to hazard a guess, when do you reckon the COFI Bill will be signed into law?