The world is in turmoil. We are living in extraordinary and uncertain times. Not only are we grappling with the impact of the Coronavirus (Covid-19) and its associated health and economic risks, but in our country, we also face stagnant economic growth, high unemployment, an unstable power network, a decline in production and exports, and an unstable stock market reflecting these concerns.
With a national state of disaster now in place in South Africa, emergency measures are being implemented to mitigate the severity of the impact of the Coronavirus. These measures are essential to protect our nation, but it will undoubtedly cause a further unprecedented decline in economic activity.
We find ourselves in unchartered waters, but this is no time to start panicking.
It is time to stand united and in solidarity to minimise the potential far-reaching impact of the deep health and economic crisis we are facing.
Our well-being is interlinked.
As a member of the Transport Sector Retirement Fund, we journey with you throughout your work life to help you build a better future for the time beyond your career, when you can sit back and enjoy the fruits of your labours.
However, in these extraordinary times, the likelihood is high that the growth of your retirement investment will not continue to increase at the same rates experienced in the past.
Take heart, the Board of Trustees of the Fund is giving careful consideration to all its investment practices to ensure that we continue to safeguard your retirement fund and to mitigate the severity of the impact of this national disaster. The TSRF will do everything within its power to limit your risk exposure.
We are your partner through all your life stages; and we at TSRF are confident that we can continue to offer you long term financial security.
Calm and stability are essential to weather this storm.
In its essence, the transport sector is highly mobile, with our members having to move between job opportunities and work contracts. In the past, this movement would have impacted negatively on your retirement savings, but now you can keep your investments safe in the TSRF as you search for and grab new opportunities.
In tough economic times, it is especially important that you remain money savvy and safeguard your income and savings.
Hold on through the hard times, and take steps to protect your health and future.
The Transport Sector Retirement Fund remains by your side. We will continue to update you with important developments.