Tag: retirement savings

What if we said you could easily retire with 25% more in savings? What if we told you the system is designed so you don’t find out how to do this? People asking for advice on the 'the best funds' for retirement but not questioning the fees they’re paying have their heads buried in the sand.

As South Africa braces itself to reach the peak in the fight against the coronavirus pandemic, Government statistics have shown that the country could reach 400,000 infections by mid-July. While lockdown conditions may have been eased to level 3 for now, South Africa, and much of the world, is nowhere near the end of the pandemic, and the economic and health repercussions of COVID-19 are going to persist for months to come.

Two months into President Cyril Ramaphosa’s new government for the next five years, South Africans have been made aware of the stark reality of a higher-than-anticipated contraction in the economy in the first quarter of 2019. While the JSE all share index rebounded in June, it comes off a miserable month of May.

The Finance Minister, Tito Mboweni, used the opportunity in the National Budget Speech to address the concerns raised by many South African citizens, corporates and international ratings agencies.

Despite the tax benefits on retirement contributions and the tax free growth, the fact that pension income benefits are ultimately taxed has led people to question whether saving in a retirement fund really is better than making your own retirement savings arrangements with after-tax earnings.