Even with private funding, pensioners in South Africa are struggling to get by.
In a Fin24 article, with the headline "SA pensioners in dire financial state, report shows", reporter Marelise van der Merwe writes:
Under a fifth of South Africans over the age of 60 are receiving private pensions, a new report has shown.
In addition, state old age grants can provide significant relief to even private pensioners, many of whom receive under R6 000 a month - around a quarter of the country's average salary.
The current old age grant is R1 780 monthly. It has been increased to R1 860 per month in the latest Budget.
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