​Contributions

Your Net Replacement Ratio (NRR) is the percentage of your salary you will likely receive as an income at retirement, i.e., a pension. It is indicated on your benefit statement as a future value. For example, if you are earning R20 000 a month when you retire, and your NRR is 50%, your projected pension at retirement will be R10 000. An income resulting in a NRR of at least 75% is recommended for a comfortable retirement.

Your Financial Adviser is your go-to person for any financial worries you might have. A Financial Adviser's main purpose is to ensure that your financial goals are within your reach. More importantly, they will design a unique plan to help you reach your goals.

You may also consider making Additional Voluntary Contributions (AVCs) either as a once-off lump sum or recurring monthly amount. Whenever you have a little extra cash like a tax rebate or bonus, it is wise to make AVCs to your pension savings. It adds exponentially to your retirement savings and is an efficient way to enhance your future income.