The worst may be over in terms of retrenchments, but those who lost jobs are dipping into pensions
Jobless often forced to cash in retirement funds, says Alexander Forbes
12 December 2021 - 08:38
Alexander Forbes believes SA has seen the last of large-scale corporate retrenchments due to the pandemic, but the expected gradual recovery of businesses means those who lost their jobs are being forced to cash in their pensions while they hunt for work in a sluggish economy.
Alexander Forbes CEO Dawie de Villiers said this week one of the negatives of the large-scale retrenchments seen over the past 20 months is that most of those in the middle to lower living standards measures groupings who have lost their jobs have “tended to withdraw all their cash and not preserve any”...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.