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Old mutual warns of a retirement disaster for South Africans | SA News

Malcolm Libera
 ·10 Aug 2025

Old Mutual has raised the alarm over the growing risk of South Africans retiring without enough money.

This is according to Old Mutual’s head of financial education, John Manyike, who warned that the country’s new two‑part retirement system is being used in ways that could erode long‑term savings. 

The system, which came into effect in September last year, allows retirement fund members to make limited withdrawals before retirement. 

However, Manyike stressed that there has been a significant spike in early withdrawals from…

African Union: South Africa is a founding member of the African Union (AU), which
aims to promote unity and cooperation among African nations.

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