Growing pushback against forced retirement and medical aid membership
The South African employment benefit industry is currently worth around R800 billion, comprising retirement funds, medical aid schemes and group insurance contributions.
NMG COO Siphamandla Buthelezi says at least more people are going to retire with some money because of the two-pot retirement fund reforms.
But a pushback against forced membership of retirement funds and medical aid schemes is expected to increase, according to NMG Benefits, one of the country’s largest independent benefit brokers.
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