Heated debate has erupted around an ANC proposal to “investigate the introduction of prescribed assets on financial institutions’ funds to unlock resources for investments in social and economic development”.
One of the classic dilemmas people who have retired abroad face is how to structure and manage their living annuities back home in South Africa. You cannot externalise a living annuity unless it is below a certain value.
There is a strong argument for abolishing the concept of retirement and thinking instead of finding a different kind of work to keep ourselves mentally and physically fit, highlights the Financial Times.
Saving for retirement is many investors’ primary financial goal and supporting retired people is a major cost for most governments and many companies. But a growing body of evidence from all quarters suggests that our approach to saving for retirement just isn’t working.