Retirement

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The "luxury of eating pet food” years after retirement will remain a pipe dream for many

19 June 2014 | General

Data made available by the Financial Services Board in May 2014, suggests that the total membership of umbrella funds across five of the largest insurers in South Africa is in the region of 1.2 million with the total assets held on behalf of the members being approximately R136 billion. This means that on average each member has approximately R120 000 in their retirement savings account with that particular umbrella fund. Although this is an astonishing low amount, we must consider members' average age as well, which would be around 40 years old for a working person.

Simplifying the complexities of retirement reform in SA

17 June 2014 | General

Many articles have been written about retirement reform and even more have speculated on the possible consequences that this would have on the retirement fund industry. These articles tend to be complex and rightly so, as retirement reform in its own right is a very complex issue.

Retirement reform in South Africa - An update

11 June 2014 | General

National Treasury issued a media release on the 14th of March 2014 that summarised and developed the principles and ideas contained in previous papers and discussion documents, particularly the paper of the 11th July 2013.

Don’t outlive your savings – choose the right annuity

04 June 2014 | General

There are many pitfalls to not saving effectively for retirement. Far too many retirees run out of money while others face a year-on-year decline in their standard of living as inflation and poor investment returns erode their income.

quick poll

Question

If you had to hazard a guess, when do you reckon the COFI Bill will be signed into law?

Answer

2026, as promised 2027 looks more likely Impossible to say More consultation needed

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