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Fin24 reports that according to the latest BankservAfrica Disposable Salary Index (BDSI) data for January 2017, average real disposable salaries continue to decline.
“For the first time since the BDSI began in 2013, the average real disposable salaries declined for eight consecutive months in a row on a year-on-year basis, according to the latest January 2017 data,” said Dr Caroline Belrose of BankservAfrica. Take-home pay remained under pressure due to the tax bracket increments, low salary increases and medical insurance costs. In nominal terms, average salaries increased by 3.9% in January 2017, but this was below the actual cost of living increase. The salary decline in real terms of 2.6% represented the biggest fall over the last year. The average nominal disposable salary, according to the BDSI, was R13,752 for January 2017.
Meantime, BankservAfrica’s Private Pensions Index (BPPI) for January 2017 reflected a second consecutive month of annual declines in real terms.
- Read this report in full at Fin24
- Read too, Fall in disposable pay may be ‘new normal’, at Business Report
Get other news reports at the SA Labour News home page