More South Africans are starting to save for retirement in their twenties, yet many still feel financially unprepared for the future. According to the 2025 FNB Retirement Insights Survey, the average starting age for retirement saving is 27. However, 60% of people under 60 say their current plan may not be enough to meet their long-term retirement goals or support the lifestyle they hope to enjoy.
FNB is encouraging South Africans to take a more deliberate approach to retirement planning, especially in their 30s, when financial responsibilities often begin to increase. While starting early is a strong first step, being consistent and intentional can make all the difference.
“Planning for retirement needs to start early. It’s becoming more mainstream, intentional and proactive,” says Himal Parbhoo, CEO FNB Cash Investments. “Given this shift, we need to find ways to support our customers through this journey with advice that is dynamic, empathetic and responsive to their evolving needs.”
Parbhoo adds: “Starting early gives you the advantage of time, time for your money to grow, time to recover from market fluctuations, and time to make informed decisions without pressure.”
The survey also reveals that younger South Africans are becoming more proactive, with many choosing to take charge of their financial future well before 30, thanks to increased access to financial education and digital tools that simplify the planning process.
“Many consumers are adopting a micro-goal mindset, breaking retirement into smaller, achievable steps rather than waiting for a perfect plan,” says Samukelo Zwane, Head of Product at FNB Wealth and Investments.
In addition to regular saving, people are exploring other ways to build financial security for their future, including side hustles, property investments, and offshore exposure. There’s also a growing awareness that retirement isn’t just about money. Health and lifestyle have also become key parts of retirement planning, as more people seek a well-rounded quality of life alongside their savings target.
With increased comfort in using digital tools, more South Africans are turning to interactive dashboards and scenario-planning solutions to visualise their futures in ways that are more tangible, manageable, and easier to track.
To help customers take the next step in their journey, Parbhoo shares these practical tips:
- Start small but start now: Even a 1% increase in your monthly contributions can make a real difference over time.
- Automate your contributions: Set up debit orders or salary deductions to make saving effortless and consistent.
- Leverage tax benefits: Use retirement annuities and tax-free savings accounts to help your money grow more efficiently.
- Review your plan regularly: Life changes, and so should your plan. Schedule a yearly review with an advisor to stay aligned.
- Keep learning: Use digital tools and reliable information to understand your options and visualise your retirement journey.
- Get expert advice: A financial advisor can help create a plan tailored to you, integrating banking, investing, and estate planning.
“Retirement isn’t a finish line. It’s a journey that starts today,” says Parbhoo. “Whether it’s increasing your contributions by 1%, starting a retirement annuity, or simply speaking to an advisor, just take the first step to begin.”
SUPPLIED.
