It goes without saying that the broad mass of South Africans should be helped to understand the benefits to them of saving for the long term. But there’s another dimension to it, more subliminal yet no less significant. One of the last things a Zuma-infused government would seriously welcome is consumers of financial products who’re alert, aware and active in the control of these savings. This in itself is a strong reason to encourage vigorously the financial education of consumers generally, retirement-fund members and trustees particularly. Imagine a situation where the 8m or so members of SA retirement funds, swelled by these members’ dependants, are alive to the linkage between their benefits and the behaviour of their government; where they take a stand (through their representatives) against the waste and worse that directly affects their funds’ investments (cumulatively worth more than R5trillion); where there’s widespread exercise of their rights (often neglected) to vote in...

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.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.