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.
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 language | English |
|---|---|
| Pages | 1-3 |
| Number of pages | 3 |
| Volume | 2021 |
| No. | Nov |
| Specialist publication | The Conversation |
| Publication status | Published - 9 Nov 2021 |