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).
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 | ||||
