Should market conditions persist for the next 12 months, retirement income specialist Just believes that pensioners may run out of money years earlier than in normal investment conditions. Just CEO Deane Moore looks at some sensible steps that pensioners can take to protect their income in the current climate in an article featured on BUSINESS TECH.
Just in the Media
Retirement feature: Steps to protect retirement income during COVID-19
CEO Deane Moore spoke to Michael Avery on CLASSIC BUSINESS about how retirees are facing the risk of not having a sustainable income for life in an environment where investment markets have crashed amid COVID-19, and retirement savings have been significantly reduced. He provides some practical solutions to protect their income for life. [Audio]
Retirement in the time of COVID-19: how to secure a sustainable income for life
MOONSTONE reports that the Coronavirus has shattered the myth that there is no place for the guaranteed annuities. Retirement in the time of COVID-19, which sees pensioners facing not only the risk of contracting the Coronavirus, but also the risk of not having an income that can sustain them for life due to the current environment that has seen investment markets crash, reducing retirement savings substantially.
Blended living annuities deliver higher sustainable incomes
Just Product Actuary, Johann Swanepoel, featured in the April edition of MONEY MARKETING tackling the longstanding debate of which is best – a life annuity or a living annuity? At Just, we believe it is both, and a blend of the two is best.
Tax-efficient ways to save for retirement
Only 6% of South Africans will be able to retire comfortably, according to National Treasury. Further to this, the Just Retirement Insights survey conducted by Just SA estimates that there is a 22% shortfall between expectations and actual retirement provisions based on current annuity rates.
Flawed financial thinking revealed by Just retirement tracking study
Without an accurate understanding of your current financial situation and discussing your unique retirement needs, it is almost impossible to set realistic and achievable financial goals, let alone work towards them. The assistance of an independent adviser should not be restricted to high-income earners only and we strongly recommend that everyone approaching retirement compare product features and pricing of available retirement solutions with a trusted specialist, in order to make informed choices. This should also help to close the gap between the expectations and reality of retirement.
Should you expect to live to 100 and will your pension last that long?
Two critical retirement planning questions you need to make assumptions about are - how long will I live and how well will I live? We don't have the answers, but there is now more information on the possibilities and probabilities. We need to plan and save for how much income we will need in our later years when we stop working, but we don't know, with certainty, when we will die. So this critical financial planning still involves quite a bit of guesswork, but expert insights can help you avoid costly mistakes.
Five things you can do now to improve your money situation, and your life, in retirement
A guaranteed income for life and leaving an inheritance for loved ones are two of the most important motivators South Africans list when they reach their golden age. This is according to Just Retirement Insight – independent research commissioned by Just – in which South Africans between the ages of 55 and 85 years in the major metropolitan areas were interviewed. When it comes to income in retirement, 89% of survey respondents wanted a guaranteed income for life (up from 86% in Just’s 2015 survey).
Half of South African retirees plan to rely on their children if they run out of savings
Retirement income specialist Just has published a new survey focusing on the saving habits of South Africans, showing that a large number of people expect to rely on their children and grandchildren should they run out of retirement savings. The findings highlight the important role of careful planning to help make informed decisions around the effective use of limited resources.
Two things that affect whether you can retire early
Findings from Just Retirement Insights feature in this article about things affecting the ability to retire early. According to the article, there are two main drivers which determine if early retirement is even an option for you - how much capital you have, and how much you need to draw to sustain your standard of living
Humans have longer life expectancy - but their money might not
Fin24 covers some of the findings from the 2019 "Just Retirement Insights" study. CEO Deane Moore says: "Our key concern rising from this latest study is the high proportion of people approaching retirement who have not saved enough, yet expect an unrealistically high level of income from their existing retirement pot."
You may be overestimating the retirement income you'll have
Many South Africans are not doing enough planning when it comes to retirement and think that their savings will generate a pension way beyond what their money can sustain. Annuity provider Just SA recently published its "2019 Retirement Insights" after interviewing more than 500 South Africans between the ages of 50 and 85