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Impact of lower salary increases on retirement savings

This MOONSTONE article is adapted from a recent article by Product Actuary Twane Wessels. She says salary increases have been trending downwards for several years, and the COVID-19 pandemic has further added to the negative growth as many South Africans experienced wage freezes and zero increases. The lower your increases, the lower your contributions to your retirement fund will be, and the less money you have invested to capitalise on any investment growth.

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