Dear Members,
Once again, we find ourselves nearing the end of a tumultuous year. We experienced many terrible weather events, war on multiple fronts, assassination attempts on world leaders and elections not only in South Africa, but in many other countries around the world. The elections in the USA have recently taken place and everyone is holding their breath to see how the outcome will impact global markets.
Locally, we implemented the much anticipated two-pot retirement system on 1 September 2024. In the few months the new system has been in place, the industry has already experienced large outflows as members access money held in their savings components. Our first article in the newsletter offers some administrative guidelines for accessing your savings withdrawal benefit from Prescient. The second article is more generic and aims to remind and educate members about the impact of investing over the long term and how such an approach will ultimately enhance the money available at retirement.
As always, we include the latest market commentary prepared by Prescient’s investment team.
I wish you all the best for the festive season!
Regards,
Helena
