The chief savings vehicles for employees in the workplace are employee benefits models. The globally accepted models at this time are those that place emphasis on the single financial need of compulsory retirement savings funded by contributions from both employer and employee on an agreed proportionate percentage basis. This is regarded as the top priority, regardless of the individual’s personal financial circumstances.

Contrary to this, recent exploratory research in South Africa challenges this one-dimensional historic employee benefits model — especially for lower end earners, who constitute the bulk of the population.

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