Get these things right for a comfortable retirement
More than 90% of pension fund members will have an average shortfall of eight times their annual pensionable salaries at retirement
06 July 2020 - 17:31
South Africans continue to fail dismally to provide for their retirement, with the latest industry statistics on savings rates showing that on average members have eight times too little savings at retirement.
Only 6% are set to retire with a pension equal to 75% or more of their final salaries since most members typically do not have 12 times their average pensionable salary in savings at retirement, which would increase their chances of getting such a pension...
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