WATCH: Preparing for your retirement during Covid-19

Image: 123RF/ DAVID FRANKLIN

According to the 2019 Alexander Forbes Member Watch, South Africans need to contribute 17% of their income for 40 years to retire comfortably on 75% of their final pensionable salary.

The frightening reality from the 2019 Member Watch analysis shows that the average replacement ratio at retirement is only 26.2%.

Michael Avery talks to Alexander Forbes’s Belinda Sullivan; Andrew Davison from Old Mutual Corporate; and founder of Planning Retirement Dave Crawford about what this year’s survey reveals about one of the most important aspects of our financial lives and how Covid-19 is affecting it. 


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