Who are we?
Just Retirement Life (South Africa) Ltd was founded in 2014 by a number of retirement specialists who are now members of our management team. Together we identified a need in the South African market for greater and more appropriate choice to be provided at retirement. This need is the subject of planned legislation as well as comment by industry leaders, particularly on the following points:
- With guaranteed life annuities, it's unfair for low to middle income earners and the ill to subsidise those with high incomes and good health.
- Many living annuity products have expensive administration and advice charges, and are not appropriate for everyone reaching retirement.
- The insurance industry, which employs a large number of investment and risk management specialists, passes an increasing amount of risk in retirement to individuals who have never been trained in these disciplines.
Everyone deserves a just retirement
Having made their selection, they then followed a rigorous process, working together with Just Retirement in the UK to define the market potential, develop a detailed business model, establish appropriate corporate governance and risk management, and expand their team with complementary specialists. They have consulted with local retirement advisers throughout this process and continue to do so, and they have applied successfully to the Financial Services Board (FSB) for a licence to trade.
As a result, we are proud to say that Just Retirement in South Africa brings to the local market the same innovation, choice and excellence that makes Just Retirement in the UK the company of choice amongst financial intermediaries in its focus markets.