"There have been some interesting recent surveys of people’s expectations of retirement," says Stephen Cranston in his latest FINANCIAL MAIL article. He covers findings from Just's 2020 Retirement Insights as well as 10X's Retirement Reality report. [Subscription required]
Just in the Media
Risk aversion in retirees during uncertain times
MOONSTONE covers the key findings of Just SA’s latest tracking study. Retirement Insights 2020 reveal the knock in confidence suffered by South African retirees and pre-retirees as a result of COVID-19, which has altered their views on the best way to invest their retirement savings. This year the “lite” tracking study specifically assessed the impact of COVID-19 on retirement planning.
Bruce Cameron | Retirement Insights
Bruce Cameron unpacks the key findings from the latest Retirement Insights, a study targeting retirees and pre-retirees over 50 years old across a range of colour, gender, income groupings, working or retired, education levels, language and marital status. Just SA normally bring out its research every second year, but this year, because of the virus, that has brought out a “lite” edition, to assess the impact of COVID-19 on retirement planning. The article first appeared on FIN24. [Subscription required]
With profit annuities: a good alternative investment strategy for retirees
While it is important to consider expected income growth over a long-term investment horizon, the annuity conversation generally starts with: How much monthly income can I secure?
Benefits of Blending
With the cost of living constantly increasing, it’s very tempting to increase your drawdown rate when your anniversary rolls around. However, this can be very detrimental to your overall financial well-being. Read more on EBnet
A woman’s perspective on longevity
Product Actuary Twané Wessels says that women underestimate their longevity, with research highlighting a disparity of 5-7 years between actual versus expected life expectancy. What’s more, despite the probability of living longer and outliving their male counterparts, fewer females tend to do adequate financial planning to ensure a comfortable and sustainable retirement. Read the full article on IOL PERSONAL FINANCE
What to look for in an annuity product
Just SA’s Bjorn Ladewig discusses choosing an annuity product at retirement with Simon Brown on MONEYWEBNOW [Audio at 13m30s]
The Benefits of Blending
In their August magazine, FA NEWS published an article outlining the relatively new annuity option that enables a higher sustainable drawdown with less associated risk. When comparing current market solutions, Just shows how pensioners could increase their monthly income by 25% by purchasing a new-generation with-profit life annuity, rather than a traditional living annuity. However, in return for this higher lifetime income, they do need to forego the flexibility of how much they can draw. Read the full article for more detail.
Life stages and life spans are changing – Financial Adviser has critical role to play
MOONSTONE reports that while the COVID-19 crisis initially provoked anxiety, Just CEO, Deane Moore reaffirmed that a retiree’s approach to retirement should remain the same, regardless of market conditions. When planning for retirement, he urged participants to think about their retirement savings in two parts – needs and wants. He then identified three sensible steps to follow to best manage and protect retirement income.
Change your living annuity, not your drawdown rate
Just features in the Winter edition of SILVER DIGEST (page 22) and covers some options to consider to make your retirement income more sustainable in an environment where current regulations do not allow you to split your living annuity after retirement.
Is the annuity debate shifting back to life, from living?
"Reintroducing the with-profit annuity: There is another type of life annuity that is making somewhat of a comeback at the moment, namely the with-profit annuity. Commentators single out Just SA, Liberty, Momentum, Old Mutual and Sanlam as the main life insurers in the with-profit segment," says FA NEWS
About to retire? Take great care
The next DAILY MAVERICK op-ed by Bruce Cameron says by adding five years to your working life, you can improve your retirement savings by about 20-30% and reduce the time you will spend living off your savings. Just CEO Deane Moore provides an example of how delaying retirement can help you.