Make sure you’re saving enough every month

Watch this video to help you decide how much to save with your retirement fund every month.

Tip: Ask your HR department if your fund offers you the option to increase your retirement fund contributions automatically each year.

You can also increase the amount you contribute to your retirement savings whenever possible.

For example

When you get a salary increase or if you receive a bonus, this is a good opportunity to increase the amount you’re saving towards retirement!

Did you know?

You can claim a tax deduction on contributions up to 27.5% of whichever is higher between your remuneration or taxable income, up to a yearly limit of R350 000.

If a higher contribution rate is not available, but you have extra money, many funds allow you to add additional amounts to your retirement savings from time to time.