JOHANNESBURG - More South Africans are planning for retirement, with many worrying they won't have enough to retire comfortably.
A new FNB Retirement Insights Survey shows 73% of South Africans under 60 now have a retirement plan, up from 60% last year.
Among lower-income earners, retirement plan ownership jumped from 19% to 48%.
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People are also saving more, with the share of disposable income set aside for retirement rising from 7% in 2024 to 10% this year.
Despite the progress, more than half of those without a retirement plan say they simply cannot afford to save.
The survey also found that many retirees face higher-than-expected living and healthcare costs, highlighting the importance of planning beyond just building savings.
FNB says South Africans need clearer guidance and easier access to retirement products to turn good intentions into long-term financial security.