People’s expenses change in retirement. Shouldn’t their income too?

Conventional wisdom says that living expenses rise uniformly with inflation, so many financial plans are based simply on that. But analysing the spending patterns of retirees shows us that the data tells a different story.

Discovery Health says Road Accident Fund is in breach of court order

In 2022, the High Court ruled that the fund could not withhold payments for past medical expenses covered by medical schemes.

Investigation calls into question the narratives used to support NHI

BHF-commissioned study identifies 11 assertions made about private healthcare and medical schemes that lack foundation.

FSCA to launch retirement fund education campaign

The FSCA encourages members of retirement funds to check whether their employer is in arrears with their contributions.

Critical illness: Momentum Life Insurance urges comprehensive coverage planning

Momentum’s 2023 statistics show that 57% of death benefit claims were due to cardiac and cancer events, yet less than 81% of these claimants had critical illness cover.

Master accepts R1.5bn in creditor claims in BHI Trust scam

The joint trustees’ attorneys are sending letters demanding repayment from creditors who received over R300m in preferential payments in the six months before sequestration.

Alexforbes: OUTvest lift-and-shift date set for 1 July

Chief executive Dawie de Villiers is optimistic about the group’s DFM partnerships, where the target is to write R2.5 billion in the first year.

Economists forecast a repo rate cut in November

The annual inflation rate remained unchanged at 5.2% in May, but it is still some way from the Reserve Bank’s target of 4.5%.

Expect ‘investment opportunities’ punted via social media and messaging apps to be scams

ASISA provides a list of tell-tale signs that someone is trying to defraud you.

Tax Ombud to investigate widespread taxpayer profile hijackings

The tax fraternity is concerned about the apparent ease with which scamsters can bypass SARS’s security protocols.

Discovery’s enhanced screening benefit will be available to new members after 2024

DHMS provides an update on the impact of the WELLTH Fund and membership movements following the consolidation of the Comprehensive series.

FSCA flags MyWealth Legatus

The Authority warns the public to exercise caution with MyWealth Legatus, just three months after imposing R73 million in penalties on two of its affiliate companies.

Sanlam to acquire majority stake in MultiChoice’s NMS Insurance Services

MultiChoice plans to use the up to R2.7 billion cash proceeds from the transaction for working capital purposes.

Why young South Africans can’t afford to skip insurance

During National Youth Month, Marius Kemp from Santam emphasises the importance of insurance for young people, who often lack emergency savings.

What medical scheme members should know about new financial reporting standards

The change is aimed at making the financial information of insurers more easily comparable across countries and industries.

Old Mutual’s chief executive is new ASISA chairman

Mahesh Cooper, Allan Gray’s chief operating officer, is appointed as deputy chairman.

Two pots: Alexforbes predicts R50bn asset outflow in the first year

The impact on capital markets should be minimal considering that most funds hold considerably more than 1% in cash, says Dawie de Villiers.