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The evolution of the savings and retirement industry

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Let’s unpack some of the key changes that have taken place in the savings and retirement industry over the last few years. Moneyweb Savings Retirement

The savings and retirement industry has had many positive changes over the years that have led to better retirement outcomes for South Africans. Over time, PPS has been able to adapt its offering to incorporate the changes. Let’s unpack some of the key changes that have taken place in the industry over the last few years. Clean pricing: The industry moved from ‘all in priced’ funds to transparent clean priced collective investments.

The two pot system is looking to introduce a system where two thirds of contributions will go to the retirement pot and one third will go to the savings pot. The retirement pot cannot be touched until retirement – even if you lose or change jobs – and must be annuitised at retirement. A member can withdraw from the savings pot every 12 months, provided they have a minimum of R2000 in savings.

 

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