ARTICLE OF THE DAY
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Government’s proposed overhaul of South Africa’s current retirement funding model is a positive step given the alarming lack of retirement savings among the majority of South Africans. However, it is critical that the correct balance is struck in order for the initiative to succeed.
The combined cost of National Health Insurance (NHI) combined with the proposed contributions to the National Savings Fund, may prove too expensive for lower income earners to afford. If this is the case, what we could end up seeing is a resistance from employees to belong to the schemes, which would defeat the purpose |
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EDITOR'S VIEW
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Those who started work on Monday, 9 January 2012, will have now completed four weeks of work. If you’re wanting to achieve something significant this year, I suggest that, instead of waiting until June before assessing your progress, you take an honest look at the past four weeks.
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