The fourth quarter PPS Graduate Professionals Confidence Index (PCI) - which tracks the confidence levels of nearly 4,000 of
Mahlasedi Mojapelo, research specialist at PPS, says this is not surprising given the recent fluctuations in the value of the rand, especially since it breached the R11:
According to David Crosoer, executive of research and investments at PPS Investments, the rand is significantly undervalued if trading above R11/USD compared to where it should trade on fundamental grounds. "While currencies can always overshoot, a weaker currency (making our exports more competitive) and improving global economy (increasing demand for our exports) could ultimately be positive for
Increase was significant
The survey also revealed a confidence level of 50% for the economic outlook for
Respondents revealed a confidence level of 59% that they have saved enough to retire comfortably, while 67% believe compulsory preservation is necessary to enforce South Africans to save.
Value of saving
Battersby highlights that National Treasury estimates that only 10% of South Africans are able to maintain their pre-retirement level of consumption after retirement, largely because of a lack of preservation of retirement fund assets when members leave their jobs. "Treasury previously proposed the possibility of phasing in a preservation requirement, and we look forward to further clarity on measures that may promote preservation among South African investors."
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