South Africa | Melbourne Mercer Global Pension Index : Melbourne Mercer Global Pension Index


South Africa


South Africa Flag South Africa

 

 

 

South Africa’s retirement income system comprises a means-tested public pension and tax-supported voluntary occupational schemes.

The overall index value for the South African system could be increased by:

  • increasing the minimum level of support for the poorest aged individuals
  • increasing the coverage of employees in occupational pension schemes thereby increasing the level of contributions and assets
  •  introducing a minimum level of mandatory contributions into a retirement savings fund
  • increasing the level of preservation of benefits when members withdraw from occupational funds
  • introducing a requirement that part of the retirement benefit from provident fund arrangements must be taken as an income stream (this requirement currently only applies to pension funds and retirement annuities).

 

RRF19921 MMGPI Report 0616 Chart WEB 1000x950 23 SOUTHAFRICA South Africa

Progressive Results:

Year

Overall

Adequacy

Sustainability

Integrity

2016  48.6 34.0  44.7  77.3
The South African index vaue fell from 53.4 in 2015 to 48.6 in 2016 primarily due to a correction in the level of household savings.
2015 53.4 47.3 43.0 77.7
The South African index value decreased slightly from 54.0 in 2014 to 53.4 in 2015 due to a number of small changes.
2014  54.0  48.3  44.6  76.3
  New to the Index

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