Allan Gray said that despite all the efforts made by South Africans to save, they are still at risk of having to make significant lifestyle-related downgrades when they retire. Allan Gray stated that after working for decades, most will be forced to live on less than a third of their pre-retirement income or face outliving their retirement nest egg. To mitigate this, Allan Gray urges people to consider increasing their retirement annuity contributions and supplement this with tax-free investment products. In addition, it urges people to speak to a financial adviser to help them plan for retirement.
