Press on with your plan
The Citizen|August 24, 2024
An allocation to shorter-term, low-risk assets could greatly reduce real returns.
Liesl Peyper
Press on with your plan

With only five working days until the two-pot retirement system takes effect, the retirement fund industry is concerned about whether pension fund members truly understand what the new regime entails.

"Despite the huge amounts of communication and information around the new system, a lot of people still don't properly understand the retirement system," said Michelle Acton, retirement reform executive at Old Mutual.

Shaun Duddy, head of product development at Allan Gray, told Moneyweb that although the twopot is a "net positive" for the retirement landscape in South Africa as a whole, it does not mean people will magically be able to retire comfortably.

"Two-pot promotes additional preservation, but people still need to do what they've always been required to do: contribute towards retirement from as early as possible, and over a reasonable amount of time."

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