Retirement crisis looms as South Africans delay saving to spend
FNB’s 2025 Retirement Insights survey reveals most South Africans expect to work past retirement age, with savings taking a back seat to rising debt and living costs.
Picture: Franz W/Pixabay
Samukelo Zwane of FNB Wealth and Investments joins Clarence Ford to unpack the recent FNB 2025 Retirement Insights survey.
Listen below:
Many South Africans are not saving enough for retirement, meaning they'll rely on meagre government grants or work well past 60 to make ends meet.
That's according to FNB’s 2025 Retirement Insights survey.
It highlights the growing gap between respondents' retirement hopes and financial reality.
Half of the employees in South Africa have no plan in place for the end of their working lives.
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"About 50% of people say they have a plan in place that they can use for retirement."
- Samukelo Zwane, FNB Wealth and Investments
Zwane says, upon closer inspection, the plan is not always right for retirement savings.
"Only 25% of those people say they're using a retirement annuity... Retirement annuities, pension funds, and umbrella funds are the appropriate investment vehicles for saving towards retirement."
- Samukelo Zwane, FNB Wealth and Investments
Zwane says people must choose retirement plans that can 'beat' inflation.
"Some people choose to invest in property... other people are investing in unit trusts... Just make sure whatever you're investing in can beat inflation."
- Samukelo Zwane, FNB Wealth and Investments
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