We all want to retire well, yet many South Africans are not prepared for retirement. What’s more, many of today’s employees are not only supporting their children, but also parents or other retired family members.
“This is a very difficult financial cycle to navigate,” says John Kotze, Head: Corporate Consultants and Employee Benefits Specialists at Old Mutual Corporate. “But this is where the SuperFund Smart6 comes in.”
What can we do – as individuals, employers, or advisers – to break the cycle of working hard but retiring short?
Achieving the best possible retirement outcomes doesn’t happen by chance; it happens by design. The SuperFund Smart6 framework illustrates how both employers and employees can intentionally shape better retirement outcomes.
They are:
- Retirement age
- Contribution rates
- Pensionable salary
- Investment returns (Read more about the five investment styles available to SuperFund members in this article.)
- Preservation
- Annuity options
In this short video, John unpacks each of the six levers and explains how they work together to build better retirement outcomes.