18°C / 6°C
  • Thu
  • 18°C
  • 6°C
  • Fri
  • 19°C
  • 4°C
  • Sat
  • 19°C
  • 5°C
  • Sun
  • 20°C
  • 4°C
  • Mon
  • 20°C
  • 3°C
  • Tue
  • 20°C
  • 4°C
  • Thu
  • 21°C
  • 9°C
  • Fri
  • 18°C
  • 11°C
  • Sat
  • 21°C
  • 10°C
  • Sun
  • 22°C
  • 10°C
  • Mon
  • 21°C
  • 12°C
  • Tue
  • 21°C
  • 10°C
  • Thu
  • 21°C
  • 16°C
  • Fri
  • 24°C
  • 15°C
  • Sat
  • 24°C
  • 15°C
  • Sun
  • 24°C
  • 15°C
  • Mon
  • 23°C
  • 16°C
  • Tue
  • 24°C
  • 15°C
  • Thu
  • 20°C
  • 11°C
  • Fri
  • 20°C
  • 12°C
  • Sat
  • 22°C
  • 11°C
  • Sun
  • 21°C
  • 14°C
  • Mon
  • 26°C
  • 17°C
  • Tue
  • 26°C
  • 17°C
  • Thu
  • 16°C
  • 6°C
  • Fri
  • 17°C
  • 5°C
  • Sat
  • 18°C
  • 6°C
  • Sun
  • 19°C
  • 7°C
  • Mon
  • 18°C
  • 6°C
  • Tue
  • 18°C
  • 6°C
  • Thu
  • 16°C
  • 11°C
  • Fri
  • 19°C
  • 9°C
  • Sat
  • 21°C
  • 7°C
  • Sun
  • 21°C
  • 7°C
  • Mon
  • 20°C
  • 6°C
  • Tue
  • 20°C
  • 6°C
  • Thu
  • 21°C
  • 9°C
  • Fri
  • 23°C
  • 12°C
  • Sat
  • 24°C
  • 15°C
  • Sun
  • 24°C
  • 15°C
  • Mon
  • 24°C
  • 14°C
  • Tue
  • 25°C
  • 12°C
  • Thu
  • 18°C
  • 11°C
  • Fri
  • 18°C
  • 12°C
  • Sat
  • 18°C
  • 11°C
  • Sun
  • 18°C
  • 14°C
  • Mon
  • 27°C
  • 17°C
  • Tue
  • 25°C
  • 20°C
  • Thu
  • 19°C
  • 8°C
  • Fri
  • 20°C
  • 7°C
  • Sat
  • 20°C
  • 9°C
  • Sun
  • 21°C
  • 7°C
  • Mon
  • 20°C
  • 7°C
  • Tue
  • 20°C
  • 6°C
  • Thu
  • 19°C
  • 9°C
  • Fri
  • 20°C
  • 7°C
  • Sat
  • 21°C
  • 10°C
  • Sun
  • 21°C
  • 8°C
  • Mon
  • 20°C
  • 7°C
  • Tue
  • 20°C
  • 8°C
  • Thu
  • 19°C
  • 13°C
  • Fri
  • 19°C
  • 13°C
  • Sat
  • 20°C
  • 14°C
  • Sun
  • 20°C
  • 12°C
  • Mon
  • 23°C
  • 15°C
  • Tue
  • 22°C
  • 15°C
  • Thu
  • 17°C
  • 6°C
  • Fri
  • 18°C
  • 4°C
  • Sat
  • 19°C
  • 5°C
  • Sun
  • 20°C
  • 6°C
  • Mon
  • 20°C
  • 3°C
  • Tue
  • 20°C
  • 3°C

Single moms not saving for retirement - Survey

An Old Mutual survey has revealed that single mothers are not saving for their retirement.

Pregnant tummy. Picture: Stock.xchng.
Old Mutual,savings,single mothers,Jaco Gouws
Local


CAPE TOWN - More than half of South Africa’s single mothers are not saving for their retirement.

The new Old Mutual savings investment monitor showed 55 percent of single mothers were putting money aside for their children's education instead.

Only 28 percent indicated that they were saving for their old age.

Old Mutual's Jaco Gouws said: “About half of them are not receiving any financial support from their children’s fathers. Even though they are trying their best to make ends meet, when they are saving, they are actually saving for their children and not for themselves.”

Gouws said mothers saved for their children's education in the hope that their kids look after them when they're older.

“Though a very selfless act, they are putting themselves at risk for the own financial future. They’re also depending very heavily on their children.”

More than a 1000 households participated in the survey.

(Edited by Tamsin Wort)

Comments

EWN welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

- Racism (including offensive comments based on ethnicity and nationality)
- Sexism
- Homophobia
- Religious intolerance
- Cyber bullying
- Hate speech
- Derogatory language
- Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the EWN community a safe and welcoming space for all.

EWN reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

EWN reserves the right to close comments on selected content pages.

EWN is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.