Plans to allow financially distressed contributors early access to their retirement savings must also focus on improving SA’s savings culture and retirement outcomes, according to Old Mutual, one of the largest players in SA’s retirement space.

Though it supported a proposal for the limited withdrawal of retirement savings to help households weather the ravages of Covid-19, this must come in conjunction with efforts to increase preservation and improve coverage, said Malusi Ndlovu, director of Large Enterprises at Old Mutual Corporate...

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