chances of retiring with a financially secure older age have been reduced because
of the Covid-19 lockdown as well as other factors such as the kleptocracy on
the general economy.
Retirement fund benefits are being undermined by Covid-19 lockdown with trade-offs and other problems being caused by the virus and the general economy. The government-initiated trade-off, reducing retirement fund contributions on employees and their employees, was to allow for improved income during the lockdown.
But, there are others taking advantage of the virus, including the life assurance industry and some employers. Implementing these types of changes, without carefully considering the trade-offs, are taking place in a number of ways.