Early access to retirement savings in South Africa is a risk: here’s why

Research output: Contribution to Newspaper/Magazine/BulletinArticle

Abstract

The COVID-19 pandemic has put a financial strain on businesses, households and individuals. It’s leading more older adults to retire early, according to recent research. This means retirees could be making increased claims on social security benefits.

The pandemic pressures are one reason that South Africa’s National Treasury announced in August 2021 that it planned to overhaul the retirement rules. With the rise in costs of living and income insecurity, many people simply can’t afford to wait until retirement to access their pensions. It is expected that the overhaul will come into effect in 2022.
Original languageEnglish
Pages1-3
Number of pages3
Volume2021
No.Nov
Specialist publicationThe Conversation
Publication statusPublished - 9 Nov 2021

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