Meaning that should you retire with an annual salary of R 100 000 you would only receive a pension of R 28 000 per annum. A big reason for this is that the average South African do not invest there money when they move between jobs but use it on “non-retirement” stuff.

Another study that was done by a company in the UK looked at the factors that was important for a successful retirement plan and listed the following:
Decide to draw up a plan for retirement
Decide how much you can contribute towards your plan
Review the plan from time to time
Decide on the “Vehicle” you will use for your investment, and the asset allocation.

Now the interesting part what contributed to a more successful plan and to better retirement provision?
Time, so the earlier you start, even with a smaller contribution is better?
Regular review of your plan, increase in contribution. Discipline.

The above process was enhanced by engaging with a trusted advisor to facilitate the process, and keep one accountable to the plan.

The above is not to give advice, but just too engage some thoughts…..