South Africans May Be Required To Contribute Up To 12% Of Their Earnings

South Africans may be required to contribute up to 12% of their earnings to a new government-backed fund, according to new proposal by the Department of Social Development. This week, it released its Green Paper on Comprehensive Social Security and Retirement Reform, which proposes the creation of a new National Social Security Fund (NSSF) - a government-managed fund which will provide retirement, disability benefits and unemployment benefits. <a href="http://www.kayafm.co.za">kaya fm</a>