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According to recent reports and studies, South Africa is making significant strides when it comes to becoming a financially responsible nation. Savings rates among those who can save are increasing and there is a different attitude towards servicing short-term credit and paying off credit cards.
The volatility of the South African economy, coupled with the recent downgrades has put consumers under immense financial pressure. A need exists for consumers to re-evaluate their lifestyles and make savings part of their daily routine.
The financial danger of accessing your retirement savings early.
We are all aware of the retirement industry in South Africa and the challenges that it faces. Added to the complex problem of South Africa not traditionally being a nation that is known for its savings, there are external challenges which are dissuading people from participating in the industry.
The strongest deterrent against FSP compliance missteps is or should be: