According to the 10X Investments Retirement Reality Report 2023/2024, only 6% of South Africa's population is on track to retire comfortably. The report highlights the lack of formal retirement planning and the lack of confidence among those who have planned for retirement.
South Africa is sitting on a retirement time bomb , with only 6% of the country’s population on track to retire comfortably, according to the sixth edition of the recently released 10X Investments Retirement Reality Report 2023/2024. The report is based on the findings of the 2023 Brand Atlas Survey .
Brand Atlas tracks and measures the lifestyles of the 15,4-million economically active South Africans – defined as those living in households with a monthly income of more than R6 000, aged 16+, and with Internet access – through online completion surveys. This year’s survey shows that there has been little fundamental change in South Africans’ inclination or ability to plan for retirement in comparison to findings from last year’s report. The 10X Investments Retirement Reality Report 2023/2024 found that the majority of South Africans have not formally planned for retirement – and those who have planned are not confident that they are on track to be able to support themselves for the long-term considering inflationary pressures and the economic climat
South Africa Retirement Time Bomb 10X Investments Retirement Reality Report Brand Atlas Survey Planning Confidence Inflationary Pressures Economic Climate
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