Have you saved enough for your retirement?

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This article by Patrick Cairns, published on MoneyWeb, may shock you.   When it comes to saving for retirement, the majority of us underestimate how much we will actually need … or we leave it too late to start, and then cannot accumulate sufficient wealth. For example, if you currently earn R30 000 per month, and you want to continue enjoying the same level of income after you retire, you need to have built up R9 million capital in order to match your current salary. Even this is an educated […]
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Join us for a great day of golf for a good cause – TAFTA’s Meals on Wheels Project.

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    We would like to invite you to The Association For the Aged (TAFTA) fundraising Golf Day at Beachwood Golf Course on Thursday, 14 May 2015. Entry fee is R4000 for a 4-ball (Includes half way meal, goodie bag & supper). Tee-off time: From 10:50 onwards Format: 4 Ball Alliance, 2 scores to count Please consider sponsoring a green at R1000. To book your 4-ball kindly contact Ateesha Rampersad on 031 332 3721 or email ateesha@tafta.org.za. There are loads of prizes to be won as well as sponsorship opportunities.
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Support our intrepid climbers

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Eileen and Philip van Greunen from Specifying Techniques are climbing to Everest Base Camp in May this year to raise funds for TAFTA. Please support their climb by sponsoring them now. The couple are passionate about climbing mountains and have many successful expeditions under their belt already, including the Matterhorn in Switzerland, Mount Kilimanjaro and Aconcagua (pictured) – the highest mountains in Africa and the Americas respectively. Locally, Eileen and Philip have climbed most peaks in the Drakensberg, the Helderberg, Lion’s Head and Table Mountain. Their names are on the […]
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What will your retirement look like?

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According to the recently released BankservAfrica Private Pension Index, more than half of retirees in South Africa receive a pension of less than R4000 per month. The Index covers 85% of all pension payments that pass through BanksevAfrica’s clearing system. The organisation also monitors the salaries that bank customers are paid through the payment clearing system. On average, pensions amount to only 45% of salaries (after tax and other deductions) earned by employees in the formal sector. There is little that pensioners already in retirement can do if their pensions […]
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Enter the TAFTA “Sweethearts” Valentine Competiton on Facebook

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    WIN Valentine’s Day Dinner & Dance vouchers for two at Zanzibar Restaurant (valued at R500) a bouquet of flowers from In Motion Flowers – delivered to any address in Durban (valued at R500) and other great prizes! Valentine’s Day is nearly here and we’re looking for love stories and pictures to inspire us! Stories of love that’s stood the test of time … memories of special grandmothers or grandfathers who’ve left their mark on your life. ALL YOU HAVE TO DO: 1. Post your pictures and stories to […]
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101 years old – Happy Birthday!

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Sheila Healy, a resident at The Outspan, turned 101 a few days ago. Close family and friends treated her to a celebration at Durban Country Club and a small party was also held in her honour at The Outspan. This spritely senior enjoys reading the newspaper every morning – and does so without prescription glasses. She attributes her longevity to not consuming alcohol, never smoking, eating healthily and having a positive attitude. We wish Mrs Healy a most enjoyable year ahead.
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Big thank you to Regent Harriers

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Each year Regent Harriers make a generous donation to charity, and TAFTA was one of two beneficiaries which each received R5000 from the group on Friday 16 January. Monkey Helpline was the other charity. Regent Harriers is not a running club, but a group of about 500 runners and walkers who meet at 5.15 am 6 days of the week to keep fit and form friendships. We are so grateful to them for their generosity in raising funds for those in need – and in particular for choosing to support […]
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Celebrate with someone you love!

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Enjoy an evening of good food and dance at TAFTA’s Valentine’s Burger & Dance on Friday 6 February 2015 at TAFTA Lodge, 42 South Beach Avenue, Durban. The fun starts at 7pm – 11pm. Music by DJ ‘M’ and delicious dinner of a beef, chicken or veggie hamburger, followed by ice cream and chocolate sauce. Entrance just R30 for members and R45 for non-members and guests, with a free glass of juice on arrival. Please book tickets with Veronica in the Anna Conradie Service Centre office – tel. o31 337 […]
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Will you be able to afford medical aid when you retire?

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As you age, your need for health cover increases. Ideally, you need a plan with hospital cover, high chronic benefits and high day to day cover. But unless you have saved a substantial amount to cover medical aid contributions after retirement, you may find such an option completely unaffordable. A 58 year old single woman who plans to retire at age 60 will need to have saved R1 million to fund medical aid contributions throughout her retirement. A married man aged 58, who wants to retire at 60, needs to […]
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Index forecasts a lower pension when you retire

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The average retirement fund member in their 40s or 50s may retire with only half to two-thirds of the pension they expect, as returns on retirement savings are expected to be lower in future. This is highlighted in the latest Alexander Forbes Pensions Index, which shows changes over the last 12 years since the index was launched. The Alexander Forbes Pension Index tracks four savers born on 1 January 1982, 1 January 1972, 1 January 1962 and 1 January 1952. On 1 January 2002, they were 30, 40 and 50 years old […]
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