THIS IS A DISASTER WAITING TO HAPPEN
THIS IS A DISASTER WAITING TO HAPPEN
Here’s something truly disturbing I came across in BusinessTech on 4 July 2025.
“Big pension changes proposed: Old Mutual is calling for a major overhaul of South Africa’s pension system, suggesting a shift to collective defined contribution (CDC) schemes. Currently, only 6% of retirement fund members are on track for a comfortable retirement, and the shift will protect South Africans’ retirement security. – Business Day”
As you’ll see in the extract above:
“Only 6% of retirement fund members are on track for a comfortable retirement.”
That means a shocking 94% of people with pension funds won’t be able to retire comfortably!
Just let that sink in.
Thanks for the honesty, Old Mutual!
I wonder when the other insurance companies will have the courage to admit it too?
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Regards,
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