Reduced contributions, increased withdrawals and an inclination to postpone retirement savings. These are the top three outcomes of the past two years spent under the shadow of Covid-19, a downward-spiralling economy and lockdowns, which forced many businesses to shut up shop.
With our unemployment numbers being what they are, especially among the youth, it is worrying that older people think they will just carry on earning a living into their old age. Chris Eddy, Head of Investments at 10X Investments, has a look at SA’s retirement saving crisis in the context of.
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