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Working towards retirement

Whether you're just starting out or nearing retirement, explore our articles, tools and guides to understand your options, develop a personalised strategy and build a secure financial foundation for the years to come.

Discover tools to help you

Set yourself up for retirement with our helpful resources.

  • About retirement planning
  • Retirement strategies
What is it?
Planning for retirement involves determining your retirement income goals and the actions and decisions necessary to achieve those goals. It encompasses saving, investing and managing your assets to ensure a comfortable retirement.
The goal
The goal of retirement planning is to accumulate enough wealth to support your desired lifestyle after you stop working. This includes accounting for living expenses, healthcare costs, leisure activities and potential unforeseen expenses.
Why you need one
A retirement plan provides financial security and peace of mind. It allows you to maintain your standard of living, pursue your passions and handle unexpected expenses without financial strain.
In your 20s
Start saving now: even small contributions add up over time thanks to the power of compound.

Pay down debt: prioritise high-interest debt such as credit cards to free up cash flow and money to save.

Consider a retirement annuity and tax-free savings account: contributions are made after tax, but growth and withdrawals in retirement are tax-free.
In your 30s
Increase your savings rate: aim to save 15‒20% of your income for retirement.

Rebalance your portfolio: ensure your investments align with your risk tolerance and time horizon.

Evaluate insurance needs: consider life and disability insurance to protect your family.

Start thinking about a retirement date: having a target date helps you estimate how much you'll need to save.
In your 40s
Maximise savings: contribute the maximum amount to your retirement accounts.

Review and adjust your plan: life changes may require adjustments to your retirement strategy.

Consider catch-up contributions: if you're behind on your savings, take advantage of catch-up contributions allowed for those age 50 and older (you can start planning for this now).

Estimate retirement expenses: get a clearer picture of your potential retirement costs.
In your 50s
Focus on reducing debt: aim to be debt-free or close to it by retirement.

Create a withdrawal strategy: plan how you'll access your retirement funds.

Consider healthcare costs: factor in the potential expenses of healthcare in retirement.
In your 60s
Finalise your withdrawal strategy: determine how you'll manage your income stream in retirement.

Review your estate plan: ensure your will and other estate documents are up to date.

Enjoy your retirement: you've worked hard; now it's time to enjoy the fruits of your labour.