Bad news for people and their retirement plans
People who have started saving for their retirement may find that they have not made enough provision when they actually do retire. This is the startling finding of a survey carried out by the Old Mutual. Spokesperson John Kotze says the survey covered 60 retirement funds. He said in Johannesburg that it was found that many fund members were not aware of what they will be getting on retirement. He says poor management of the industry is responsible for no adequately advising investors. Kotze said this could have a devastating effect on many people.