National Treasury proposes more changes to the two-pot retirement system
Delaying the implementation date and raising the seeding cap are among the announcements and clarifications.
Association for Savings and Investment South Africa
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Asisa urges policyholders to explore all options before giving up their risk cover
Statistics for the first half of 2023 show a high number of lapses and surrenders as consumers are squeezed by the cost of living.
Two pots: MPs agree with Cosatu that R25 000 cap on seeding is too low
Retirement industry bodies plead for a later implementation date, but Cosatu says 1 March next year is a ‘red line’.
‘T-Day’ provident fund members ‘should have to opt in to two pots’
Organisations representing the retirement industry call attention to the ‘problematic’ provisions in the draft legislation for the two-pot retirement system.
Hard-pressed consumers dip into unit trust investments in second quarter
But reinvestments exceed net outflows, leaving the local collective investment schemes industry with an effective net inflow of R16bn.
The unit trust category that has far out-performed the others over the past decade
The average balanced fund has delivered about CPI + 2% over 10 years, which is well below the returns these funds aim to deliver.
Asisa red-flags high number of policy surrenders and lapses
Policyholders and beneficiaries receive claims and benefits payments worth R578 billion in 2022, the second-highest paid in a year.
SA hedge funds grow their assets by 30% in 2022
Industry hopes amendments to regulation 28, separating hedge funds and private equity investments, will boost inflows.
Asisa responds to two-pots deadline of 1 March 2024
The legislation may not be finalised until October this year.
Collective investment scheme assets once again exceed R3 trillion
It’s too soon to tell how grey-listing will affect the industry, says Asisa.
Where SA unit trust investors allocated their money in 2022
Investors took an interesting approach to last year’s rollercoaster investment environment, says Asisa.
Balloting exemption when CIS portfolios are amalgamated now in effect
FSCA says giving investors in a targeted portfolio an opportunity to object will not effectively nullify the exemption.
Where unit trust investors are putting their money
Assets under management by local collective investment schemes once again surpass R3 trillion.
Insurance gap increases only slightly, but not for a good reason
SA’s 14.3 million income-earners have enough life and disability insurance to cover only 45% of their total insurance needs.
How much more income-earners must spend to close the insurance gap
Alternatively, how much less households will have to spend following the loss of a breadwinner.
Under-insurance is greatest among those under 30
Yet younger income-earners will have to rely on insurance benefits for longer.
Financial institutions may hold far more than R88bn in unclaimed assets
An estimated R88.56 billion in unclaimed assets are held by institutions across the financial sector. However, the FSCA says the amount might be far higher because there is no common understanding of what […]
