Question 15: Who says I will consume my money if it is paid to me? I am perfectly capable of investing the money myself and catering for myself in retirement thank you very much!

Answer: Surveys carried out show that many people who are paid their benefits when they change jobs utilize them on consumption expenditures such as cars, household goods, weddings etc. Statistics also show that accessing benefits when changing jobs, results in many workers having very low benefits at retirement despite having saved for 30 to 40 years. Further, individuals are unlikely to have any knowledge of investment management and are unlikely prudently invest their own savings.