JOHANNESBURG - Alexander Forbes says one in three of its clients are tapping into their retirement savings through the two-pot system.
The second largest asset manager has posted a solid set of results for the year that ended in March.
Alexander Forbes says the results were due to a favourable operating environment in South Africa and a disciplined execution across the group.
But the CEO has defined the future of the markets and the economy as uncertain.
Dawie de Villiers, says two-pot withdrawals are showing the strain some households are under.
"About 33 percent of members claim and a big portion of them are the same people that claim every year. That is upsetting in one way because you can see that people are struggling, there is debt, and they need the cash. On the other hand, I'm relieved people have access to this money without having to resign."