Retirement savings face depletion

• New NBFIRA Act to lead to an increase in encashment options
• Members’ net worth replacement ratio to decline 
• New Law to cushion members and give them flexibility to spend from pensions 

Since the introduction of pension benefits in Botswana, the main purpose of this benefit was to provide the working class with a retirement plan to assist workers in their life after formal employment. This was to safeguard the government against high numbers of people who became destitute once they were no longer employed.