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...

This article is reserved for Sunday Times subscribers.

A subscription gives you full digital access to all Sunday Times content.

Already subscribed? Simply sign in below.

Registered on the BusinessLIVE, Business Day, Financial Mail or Rand Daily Mail websites? Sign in with the same details.



Questions or problems? Email helpdesk@timeslive.co.za or call 0860 52 52 00.