Content contributed by Simeka Health
The cost of provision for medical cover after retirement is underestimated worldwide and very few employers still provide any form of subsidy to employees after retirement.
Until we start doing the maths and understand what percentage of our pension income will be required to pay a medical scheme contribution when we have only our pension income to rely on, we tend to significantly misjudge this figure – what’s more, according to the 2020 Sanlam Benchmark Survey, 61% of pensioners can’t make ends meet.
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