Although many headlines in South Africa have focused on the high withdrawal rates under the two-pot retirement system, six out of ten fund members have preserved their savings in the first year.
As such, Guy Chennells, commercial chief at Discovery Corporate and Employee Benefits, cautions against being overly negative about withdrawal patterns.
Read: Two-pot payouts surge to R57bn, with 4m withdrawals
Listen/read: Two-pot withdrawals: Where was the money spent?
“Yes, many people saw it as a big ‘bonsela’ [bonus], but it has come down and has stabilised. The second round of claimants viewed it as a less…
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Meep
Van der Merwe is approached by SANRAL one day who want to build a new highway through his donkey farm. Van is really concerned with how his donkeys can get from one side of the farm to the other without having to cross the highway and risk being injured or killed. He is promised that they will build bridges the highway so that his donkeys can cross under the highway. Van agrees and gives them the go-ahead.
The highway is built and a year later the same rep goes to the farm to go see how Van and his donkeys are. He eventually finds Van under one of these bridges chipping away at the roof of the tunnel with a hammer and chisel.
\”Mnr Van de Merwe, what are you doing damaging the highway bridge?\”
Slug-Em-Dog
Uzbekistan: You have two cows. They are probably less bored than you.