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Low rates of preservation of retirement savings will result in many South Africans not reaching their retirement goals. This is the key finding of the 2017 Old Mutual Corporate Retirement Monitor, which reports a dramatic decrease in the number of employees planning to preserve their savings should they resign from their position.
Findings from the 2016 Sanlam BENCHMARK Survey show that many retirees’ income – even in the affluent market – is not keeping pace with inflation, leading to a reduction in the buying power of their post-retirement incomes. This points to the necessity of supplementing the savings you have in your employer’s pension and/or provident fund.
Good news is always welcome, especially when it means paying less tax. Allan Gray’s Carrie Furman explains how SARS is helping you save more for your golden years.
The National Treasury has moved closer to its goal of ensuring that South Africans can retire more comfortably following the release of its revised default regulations for the pension industry.
If you had to hazard a guess, when do you reckon the COFI Bill will be signed into law?