SA's largest pension fund administrator backs a two-bucket retirement system

Alexander Forbes says a lot of retirement fund members are under tremendous financial stress.

Using credit bureau data, the company analysed the indebtedness situation of about 70% of its one million members – those it had enough data of to get a concrete picture of their financial health. Almost all of them had some form of debt, and 27% had loans in default. And 5% were under severe stress, or under debt review.