Covid-19 magnifies retirement savings crisis By Georgina Crouth Share South Africans are facing a long-term retirement crisis, which has been magnified by the pandemic â and women are most vulnerable. This is the scary message to emerge from the third annual Retirement Reality Report by investment firm 10X, released in October last year. The report is based on a Brand Atlas survey of the lifestyles of 15.1 million South Africans with an income of over R8 000 a month. The findings are corroborated by National Treasury figures. 10X said a key issue that cropped up âtime and againâ in the reports was that people felt they could not afford to save for retirement, but they âreally cannot afford not to save for retirementâ.