What happens to your retirement savings if your company shuts its doors?

South Africa faces a daunting future. Many companies are expected to experience economic hardship and may even have to close their doors as an unfortunate consequence of this difficult economic time. This will ultimately force many businesses to let employees go. Besides the emotional turmoil that employees face when they lose their jobs, many don’t receive the assurance that their pensions are safe. The Financial Sector Conduct Authority recently warned that many distressed employers will default on their employees’ contributions to retirement funds. Saleem Sonday, head of Group Savings and Investments at Allan Gray, joins us to shed some light on employee rights and responsibilities when it comes to retirement savings.