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”...

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