Members of retirement funds face a decision every year regarding their savings pots – to use or not to use? The easy answer is: don't use your savings pot as it will diminish your retirement benefits. However, the majority of South Africans face real...
Imagine working for four decades only to discover that your retirement income barely covers the cost of your groceries. This is not a distant fear but the reality for most South Africans. The system must change. Traditionally, discussions about impact have...
1 September 2024 marked a turning point in South Africa's retirement landscape: the official launch of the two-tot retirement system. For those involved in the months of intense preparation leading up to this deadline, the efforts may now seem like a distant...
Employers play a crucial role in retirement savings in South Africa. While it is not mandatory to offer a retirement savings benefit, many employers recognise the important role employer-arranged retirement investments, such as umbrella funds, can play in...
Retirement fund trustees, in discerning how best to allocate section 37C death benefits to the financial dependants of deceased retirement fund members, rightly look principally at the needs of minors. If the trustees are of the opinion that the guardian or...
This year, Alexforbes marks 90 years of service to South Africans. It's a milestone that invites reflection ‒ not just on our own journey, but on the transformation of retirement savings across the country. Over the decades, we've seen the retirement system...
As South Africa continues to grapple with economic inequality, infrastructure backlogs, and retirement insecurity, the employee benefits industry stands at a pivotal crossroads. Pension funds - custodians of long term retirement savings - have a unique...
The two-pot retirement system represents one of the biggest evolutions in the South African retirement industry landscape to date and aims to address two major challenges in retirement planning: leakage and access to emergency savings. Two seemingly...
Retirement funds provide financial security after the working years. If a retirement fund member dies, and a lump sum death benefit becomes payable, the trustees of the fund are responsible for distributing the death benefit fairly, in accordance with...
The retirement industry has been marked by innovation since its inception. But no change happens faster than the AI revolution. This transformation will lead to better member outcomes, more knowledgeable members, more knowledgeable trustees, and eventually a...
