According to the World Health Organisation (WHO) life expectancy in South Africa has increased over the last decade.
Due to that, people seem to be working beyond retirement.
Business development manager at Glacier by Sanlam, Rocco Carr, says from his experience in the field he has discovered that people are finding it difficult to make ends meet after they have retired.
What we have actually seen in South Africa is that the average age of a person until death is extended. A lot of people are living beyond 80 and 85.— Rocco Carr, Business Development Manager at Glacier by Sanlam
What we have seen is that a lot of people would like to work later in life but they get retrenched earlier or reach their age of retirement.— Rocco Carr, Business Development Manager at Glacier by Sanlam
A lot of people are careful for a couple of years and then inflation catches up with them and are actually losing out.— Rocco Carr, Business Development Manager at Glacier by Sanlam
Carr advises that people should start saving for retirement early and keep at it. He recommends unit trusts as a good investment mechanism.
To hear more of this interview, listen below:
This article first appeared on CapeTalk : South Africans working beyond retirement age