Culture Of Saving Is Slowly Becoming A Myth In The Country

By: Bright Ntuli

The National Treasury has highlighted that a culture of savings and investment is severely lacking in South Africa.

It says less than 10% of retirement fund members can maintain their standard of living when they stop working.

Even worse is the percentage of women who will be secured when they retire.

According to Discovery Invest’s Jennifer Arendse, this is largely attributed to the current wage gap between men and women in South Africa.