Currently, any discussions around amending regulation 28, which stipulates what asset classes retirement funds may invest in, have been focused on increasing the percentage allowed for unlisted assets such as infrastructure. Picture: iStock
Financial planner Gregg Sneddon says many of his clients have stopped contributing to their retirement annuities, preferring to take their after-tax money and invest offshore.
“To be honest, given the current rhetoric from government and the weak economy, I am not advising young people to take out a retirement annuity,” said Sneddon.
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