South Africa’s pension system holds ground amid global shifts
South Africa’s R4.8tn pension industry may be a small player on the global stage, but its role in local capital markets and long-term national development is outsized – and becoming increasingly strategic as global trends reshape the future of retirement funding.
The Global Pension Assets Study 2025, released by the Thinking Ahead Institute (TAI), places South Africa 16th among 22 major pension markets, with total pension assets of $257bn (R4.8tn) at the end of 2024.
While this represents a modest 0.4% share of the global total, the country’s pension assets now equal 63.7% of its GDP – up from 58.7% a decade ago.
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