You may have to save a lot more to have an adequate income in retirement.

The prolonged downturn in interest rates is playing havoc with retirement savings. Low interest rates mean people who are saving for retirement can expect a dramatic reduction in their replacement ratio (their pension as a percentage of their final salary) at retirement. In addition, low interest rates affect the guaranteed pension you can buy when you retire. Read Personal Finance to find out the implications for your retirement planning.

Also in our weekend print edition:

* Medical schemes are obliged to pay certain claims – but sometimes they do not.

* Generating an income from your savings.

* How to prepare for the major financial implications of suffering a dread disease or severe illness.

Personal Finance is published every Saturday in the Pretoria News Weekend, the Saturday Star, The Independent on Saturday and the Weekend Argus.