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How have my retirement savings been affected by the Covid-19 pandemic?

During times of crises (like we are experiencing now), investment market performance and investment markets are highly volatile, and your retirement fund savings are likely to be lower than before.  These losses are however simply what is called “paper losses” and you should not become spooked by it.  Saving for retirement is a long-term matter - there will be good times and bad.

It is important to remember that trustees of retirement funds construct the fund’s investment strategies across a wide range of asset classes, so that members can benefit from having a diversified allocation to different investment portfolios.  

What should I do now?  

Do not be tempted to make hasty changes to your investment portfolios.  The risk is that you will miss out on any market recovery, which will have a devastating effect on your savings over the long term.   

Focus on making changes that are in your control such as:

  • Adapt your budget   cut back or tighten your belt where you can.
  • Check that your nominated beneficiaries are up to date – you can use the “Sanlam MyRetirement” app.
  • Make sure your risk benefits remain appropriate now is not the time to cancel your insurance.
  • Have a long-term investment strategy and goal and stick to it.
  • Speak to a financial adviser who will have a holistic view of your financial position.
Important note:
You can rest assured that the investment experts at Sanlam are extremely focused on doing their best to protect your retirement savings, while also generating long-term returns for you.

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