Market crash a threat to many pensions

05 April 2020 - 05:02 By LAURA DU PREEZ

Many South African pensioners drawing an income from investments in a living annuity will find themselves on a path to financial ruin after the severe selloffs on local and international markets as the coronavirus hit.

In particular, younger retirees who started drawing an income of more than 4% of their savings may reach the maximum income drawdown sooner than expected unless they reduce their pensions as soon as possible, professionals in the pension industry say...

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