The worst may be over in terms of retrenchments, but those who lost jobs are dipping into pensions

Jobless often forced to cash in retirement funds, says Alexander Forbes

12 December 2021 - 00:00

Alexander Forbes believes SA has seen the last of large-scale corporate retrenchments due to the pandemic, but the expected gradual recovery of businesses means those who lost their jobs are being forced to cash in their pensions while they hunt for work in a sluggish economy.  

Alexander Forbes CEO Dawie de Villiers said this week one of the negatives of the large-scale retrenchments seen over the past 20 months is that most of those in the middle to lower living standards measures groupings who have lost their jobs have “tended to withdraw all their cash and not preserve any”...

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 or Financial Mail websites? Sign in with the same details.



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