Just in the Media

Just is a strong advocate for using the right tools to manage risk in retirement: insurance for longevity risk, and investment strategies for investment risk and inflation. This recent Business Day article highlights that: “The latest thinking on providing an income in retirement recognises the need to minimise the risks of an 'income crash' due to the effects of longevity, investment risks and inflation.” It is worthwhile to compare the product features and pricing of available retirement solutions with a financial adviser.

In the face of rising living costs and high levels of household debt, the notion of retiring comfortably seems beyond reach for many South Africans. However, retirement income specialist Just maintains that soon-to-be retirees can facilitate a smoother transition towards a sustainable lifestyle in retirement by rethinking their essential spending.

In South Africa we grapple with the problem that people haven't saved enough for retirement. In addition, people are living longer and market returns are unpredictable, so retirees need to be resilient in the face of uncertainty. With most retirees using living annuities to give them an income, many are worried their capital could run out too early. Is there a solution?

It no longer needs to be a case of choosing between the flexibility of a living annuity or the security of a life annuity; hybrid products deliver both. Deane Moore comments in an article on Moneyweb by Patrick Cairns on the recent announcement that hybrid annuities can now be used within pension funds.

Retirement fund members will now be able to secure longevity protection within a living annuity. This comes after the Financial Services Conduct Authority (FSCA) announced an exemption from its criteria for living annuities in a default annuity strategy. The exemption expands customer choice and will help improve the financial outcomes of people in retirement.

An article first published in Financial Mail, talks about the default regulations and the changing mindset of pension funds. It also mentions Just’s partnerships and the ability to provide enhanced annuities to people who may have earned lower incomes, are smokers or may have worked underground or those with life-shortening illnesses.

If you are a member of a pension fund and or have a retirement annuity, two-third of your financial retirement amount must be used to purchase an annuity income. Maya Fisher-French explains some of the diferences between a living annuity and a guaranteed life annuity.

Twane Wessels speaks to Michael Avery on Classic Business about consciously applying your capital at retirement.

The hybrid annuity balances retirees' need for income security with their desire to leave a legacy to loved ones.

On average, respondents in "Just Insights", an independent survey commissioned by Just SA, expected a monthly income in retirement of almost R12,000. This implies an expected annual income rate of 8% based on their average retirement savings of R1.8m.