Alexforbes, SA’s largest retirement fund administrator, expects about R55 billion in outflows from the institutional pension fund industry during the first year of implementation of the so-called two-pot retirement system.
The industry estimate is an extrapolation of the estimated withdrawals Alexforbes expects to see from its R525 billion in assets under management and administration as at end-March 2024.South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism. Join our free subscription trial to unlock this story and a world of news aimed to inform, empower, and inspire.