FAC­TORS THAT EAT INTO FUNDS

CityPress - - Business -

Ac­cord­ing to the 2015 San­lam Bench­mark Sur­vey, South African re­tirees are un­able to main­tain their stan­dard of liv­ing in re­tire­ment, with 62% ad­mit­ting they ex­pe­ri­enced a re­duc­tion in in­come at re­tire­ment.

Fac­tors chew­ing away at funds were iden­ti­fied as: Hav­ing de­pen­dants post-re­tire­ment (66%); In­come not keep­ing up with in­fla­tion (60%); Mar­ket down­turn (22%); Spend­ing the lump sum (19%); and Hav­ing to pay off pre­re­tire­ment debt (19%). Of the per­cent­age of re­tirees who still have de­pen­dants, 54% are sup­port­ing a spouse and 30% sup­port a child or other de­pen­dant.

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