Retirement planning
How Much Do You Need to Retire in South Africa?
Practical retirement guidance for every stage of the journey.
Answer a few questions about your savings, contributions and desired income, and the calculator below will estimate the capital you may need at retirement — updating instantly as you change the numbers. Nothing you enter is stored or sent anywhere; the calculation runs entirely in your browser.
The figures below are based entirely on the assumptions you enter. They do not account for tax, product-specific fees or your full financial picture. For advice suited to your own circumstances, speak to a Mbalwa adviser.
Your estimated results
Estimate only — not personalised financial advice. Actual outcomes depend on markets, fees, tax and your own circumstances.
Understanding your results
What the result means
Estimated capital required at retirement is the lump sum the calculator estimates you'd need on the day you retire to fund your desired monthly income — net of any other income — for your chosen retirement duration, in today's rand.
Projected capital at retirement is what your current savings and contributions are estimated to grow to by your planned retirement age, based on the return and inflation assumptions you entered.
Estimated shortfall or surplus compares the two: a shortfall means your projected capital is currently on track to fall short of what you'd need; a surplus means it's projected to exceed it. Neither is a certainty — both depend entirely on your assumptions holding true.
Monthly contribution needed to close the gap shows roughly what you'd need to contribute each month, on top of growth, to close a projected shortfall by your planned retirement age.
Income replacement estimate shows your desired retirement income as a percentage of your current income — a rough sense-check of how your planned lifestyle compares to your income today.
Why the estimate can change
Factors that change the estimate
Small changes to any of these assumptions can move the result significantly — that's normal, and part of why this is an estimate rather than a fixed number.
Inflation
Higher inflation erodes purchasing power and increases the capital you'll need.
Investment return
Returns are never guaranteed and vary with the risk you take on.
Retirement age
Retiring later gives savings more time to grow and fewer years to fund.
Longevity
Living longer than assumed means your income needs to stretch further.
Fees
Product, platform and fund fees reduce your net investment return over time.
Tax
This calculator doesn't model tax — actual after-tax income may differ.
Healthcare
Medical costs often rise faster than general inflation in retirement.
Contribution changes
Pausing, reducing or boosting contributions changes your trajectory.
If the numbers show a gap
Ways to respond to a shortfall
Increase contributions
Even a modest increase, especially early, compounds meaningfully over time.
Review fees
Lower costs mean more of your return stays invested and working for you.
Adjust retirement age
A few extra working years can meaningfully change the outcome.
Review risk level
Check whether your current allocation still suits your time horizon and goals.
Preserve or consolidate benefits
Avoid cashing out retirement savings when changing jobs, and consider consolidating.
Reconsider required income
Revisiting your desired lifestyle in retirement can narrow the gap on its own.
Obtain personalised advice
An adviser can weigh these options against your full financial picture.
How the numbers are calculated
Calculator methodology
This calculator works in real (inflation-adjusted) terms — your expected investment return and expected inflation are combined into a single "real" rate of return before any projection happens, so all figures are shown in today's rand.
Your current savings and monthly contribution are then projected month by month to your planned retirement age, with your contribution increasing each year by the percentage you specify. This gives the projected capital at retirement.
Separately, the calculator works out the capital required to sustainably draw your desired monthly income (net of any other income) for your chosen retirement duration, using standard annuity mathematics — the present value of a level monthly drawdown at the real rate of return. The difference between the two figures is your estimated surplus or shortfall, and any shortfall is translated into an estimated extra monthly contribution using the future-value formula for a level monthly saving.
Key assumptions: a constant real rate of return every month; contributions that increase once a year, in a single step; no tax, product fees or platform charges; and a fixed, known retirement duration.
Limitations: real markets do not move in a smooth, constant line — sequencing of returns, market downturns, fee structures, legislative change and your own life events can all move the actual outcome away from this estimate. Treat the results as a planning starting point, not a forecast.
Last updated 1 July 2026 · Reviewed by Wenzile Mthiyane, CFP®, Key Individual, Mbalwa Investment Services.
Frequently asked questions
Questions about the retirement calculator
It depends on your desired monthly income, any other income you'll have, your investment returns, inflation and how long your retirement needs to last. There is no single figure that applies to everyone — use the calculator above for an estimate based on your own numbers.
No. It is an estimate based on the assumptions you enter. Actual outcomes depend on markets, fees, tax and other factors that cannot be predicted with certainty.
South Africa's inflation target range is a common starting point, but consider your own likely spending pattern too — healthcare costs, for example, often rise faster than general inflation.
This depends on your risk profile and asset allocation. A more growth-oriented portfolio may target a higher long-term return, with more volatility along the way. A Mbalwa adviser can help you choose an assumption suited to your own strategy.
Many people underestimate this. It is common to plan for 25 to 35 years or more, considering rising life expectancy and your own family history.
No. The calculator works in today's rand and does not model income tax, retirement fund tax rules or fund-specific charges. A full financial plan should factor these in explicitly.
Yes. Include the current value of retirement annuities, pension or provident funds under "current retirement savings" for a combined estimate, or list guaranteed income — such as a defined-benefit pension — under "other retirement income".
A shortfall estimate is a starting point, not a verdict. Common responses include increasing contributions, adjusting your retirement age, reviewing fees and risk level, or preserving benefits rather than withdrawing them — see "Ways to respond to a shortfall" above.
Written and reviewed by Wenzile Mthiyane, CFP®, Key Individual, Mbalwa Investment Services (view profile) · FSP 55090 · Last reviewed 1 July 2026