Himal Parbhoo | CEO | Cash Investments | FNB | mail me |
More people are starting to save for retirement in their twenties, however, many still feel financially unprepared for the future. According to our 2025 Retirement Insights Survey, the average starting age for retirement saving is 27.
Despite this early start, 60% of people under 60 say their current plan may not be enough. They worry it may not meet their long-term retirement goals or support the lifestyle they hope to enjoy.
Retirement planning is becoming more intentional
Against this backdrop, we are encouraging South Africans to take a more deliberate approach to retirement planning. This call is especially relevant for people in their 30s, when financial responsibilities often begin to increase. While starting early remains a strong first step, consistency and intentional retirement planning make a decisive difference over time.
Planning for retirement needs to start early. It’s becoming more mainstream, intentional and proactive. Given this shift, we need to find ways to support our customers through this journey. That support must include advice that is dynamic, empathetic and responsive to their evolving needs.
Starting early offers a critical advantage. It provides time for money to grow. It also allows time to recover from market fluctuations. Importantly, it provides individuals with time to make informed decisions without unnecessary pressure, thereby strengthening long-term retirement planning outcomes.
Younger South Africans take charge earlier
The survey also reveals a clear behavioural shift among younger South Africans. Many now take charge of their financial future well before the age of 30. This shift reflects increased access to financial education and digital tools. These tools simplify retirement planning and make decision-making more accessible.
Many consumers are adopting a micro-goal mindset. Instead of waiting for a perfect plan, they break retirement into smaller, achievable steps. As a result, retirement planning feels more manageable and less overwhelming.
– Samukelo Zwane, Head of Product at FNB Wealth and Investments
In addition to regular saving, people are exploring other ways to build long-term financial security. These include side hustles, property investments and offshore exposure. At the same time, there is growing recognition that retirement is not only about money. Health and lifestyle considerations now form an essential part of retirement planning, as people seek a balanced quality of life alongside their savings targets.
A more holistic view of retirement planning
As confidence in digital platforms grows, more South Africans are embracing interactive dashboards and scenario-planning tools. These solutions help users visualise their futures more clearly. They also make retirement planning more tangible, manageable and easier to track over time.
To help customers take the next step in their journey, Parbhoo shares the following practical tips:
- Start small, but start now – even a 1% increase in monthly contributions can make a meaningful difference over time.
- Automate your contributions – set up debit orders or salary deductions to ensure saving remains effortless and consistent.
- Leverage tax benefits – use retirement annuities and tax-free savings accounts to help your money grow more efficiently.
- Review your plan regularly – life changes, and your retirement planning should adapt accordingly. Schedule an annual review with an advisor.
- Keep learning – use digital tools and reliable information to understand your options and visualise your retirement journey.
- Get expert advice – a financial advisor can help tailor a plan to your needs. This approach can integrate banking, investing and estate planning.
Retirement isn’t a finish line. It’s a journey that starts today. Whether you increase your contributions by 1%, start a retirement annuity, or speak to an advisor, take the first step and begin your retirement planning journey now.
