1. Ensure the pension provider is regulated by the Retirement Benefits Authority (RBA). 

RBA is a regulatory body under the National Treasury, established under the Retirement Benefits Act, that is mandated to steer the retirement benefits industry through prudent regulation and supervision of the sector to ensure the protection of the interests of members. 

2. Go for a pension provider that offers stability.

The provider should inspire confidence for the long-term, given that you are investing your money with them for 30, 40 years. It is advisable to do thorough due diligence and ask as many questions as possible until you are satisfied.

3. Consider the returns offered. 

Aim for competitive, guaranteed returns. Guaranteed returns mean that if providers lose money, the client’s money is fully protected, and it is the provider that bears the loss. Competitive returns mean returns that grow the money you have invested.

4. Factor the time of investment. 

Younger people who are far from the age of retirement are more open to taking risks. At 20, one can go for a pension provider who dabbles in crypto and hedge funds. If you are perhaps 40 years old, you will be risk averse and, therefore seek a provider who invests conservatively.

5. Seek unique options. 

With a crowded pension plan market, look for what differentiates the providers. Given that constant job changes are a reality, a provider that allows for the combining of various pension pots from different employers offers a unique value proposition.