Alexforbes data shows 10% of retirees now on track
Alexforbes Members Insights 2026 reveals most people do not save enough of their salary each month for a sustainable retirement
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Alexforbes Members Insights 2026 reveals most people do not save enough of their salary each month for a sustainable retirement
Data from one of South Africa's largest standalone administrators shows that only 10% of retirement fund members can replace three-quarters of their final pensionable salary.
Salaries in July increased to an average of over R20 000
Starting each month financially on the back foot
The higher a person's income, the more credit they are offered.
Salary growth has failed to keep pace with rising inflation, resulting in a continued decline in real earnings.
What you do with your first few salaries could shape your financial life for years to come.
'The applicable salary adjustment effective from 01 April 2026 for the relevant categories of employees.'
The index found that those earning more than R50 000 a month need 101% of their salary to service debt.
If inflation and economic challenges outpace salary growth, real incomes could shrink as the year progresses.
Geopolitical unrest across the world is not expected to affect South Africans’ salaries this year, an economist says.
Motus said there will be no adjustments made to basic salaries.
But this is a R2bn shock ‘it cannot withstand’.
At least 44 of FirstRand’s lowest-paid banking employees could be paid with the CEO’s cash package.
Neville Koopowitz received a fixed salary of £1.1 million per year, approximately R25.4 million.