Guiding consumers since 2009

Don't raid your pension

By Staff Writer

Early withdrawals spell trouble 

From IOL.co.za
By Thabiso Thakali

Cash-strapped South Africans are making unprecedented premature withdrawals of their provident and pension funds in a battle to service debts.The country's overall current debt is R1 139-billion compared to the R297-billion of 10 years ago.

Justmoney.co.za says:

While it may seem like a quick fix to get you out of your immediate debt problems, a provident or pension fund should be a long term accumulator of capital to protect you in your retirement. Plan for your retirement, rather consolidate your debt, or seek debt management, than raid your savings.

 

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