The pandemic has left many feeling insecure about their financial future and their ability to enjoy their retirement comfortably.
Alexander Forbes says South Africans need to contribute 17% of their income for 40 years to retire comfortably on 75% of their final pensionable salary — a 75% replacement ratio — according to the 2019 Alexander Forbes Member Watch. According to Alexander Forbes Member Watch, only 6% of the total retirement fund membership can expect a replacement ratio above 75% of their pensionable salary.
We speak to Sisandile Cikido, head of retail investments at Nedbank, on how to avoid the potential pitfalls of retirement while maximising your income.
Listen to the podcast below:
