Too poor to retire

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The average member of a pension fund in South Africa has eight times less of their annual salary in their pension fund when they retire. Picture: Getty Images/Gallo Images
The average member of a pension fund in South Africa has eight times less of their annual salary in their pension fund when they retire. Picture: Getty Images/Gallo Images

This means that only six out of 100 people who contribute to a pension fund can retire comfortably with an income equal to 75% of their annual salary. This picture has emerged from data gathered by financial services company Alexander Forbes as part of the annual Member Watch survey, which focuses on the behaviour of the more than 1 million members of pension funds that the firm administers.

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