Tax on savings component withdrawals benefits low-income earners, says Treasury
The tax structure aims to be progressive, with low-income earners paying little to no tax on withdrawals, while high earners are taxed more.
Cosatu
Videos
Watch: FPI Financial Planner of the Year on key issues shaping the financial landscape
Animated video explains the two-pot retirement system
NCA Credit providers’ FICA obligations
NCR Desktop Audits
Is South Africa on track to getting off the grey list?
Looking back at this year’s FPI Professional’s Convention
Enhance your HR skills by attending our insightful webinars in November
Webinars on how to investigate misconduct and address poor performance
Cosatu wants urgent discussions with Treasury over changes to two-pot system
One of its four proposals is to allow members to transfer up to a third of their vested savings to their savings component.
Two pots: MPs envisage staggered implementation
The finance committee’s decision seems, in part, to be based on the assumption that some fund administrators will be ready to ‘go live’ on 1 March next year.
Cosatu wants a higher cap on transfers to fund members’ savings pots
It’s also hoping for concessions on access to the retirement pot when members are retrenched or dismissed.
Beneficial ownership information must be available to the public, says Cosatu
The Congress of South African Trade Unions (Cosatu) has called for information about the beneficial ownership of companies to be made publicly available. Cosatu and one of its affiliates, the Southern African Clothing […]
Treasury agrees to three of Cosatu’s responses to the proposed two-pot system
National Treasury has “loosened the lids” on the pots in the two-pot retirement system, agreeing to amend the draft legislation so that fund members will be able to access the savings they accumulated […]
New deadline for two-pot retirement system is still a big ask, says Asisa
The Association for Savings and Investment South Africa (Asisa) has welcomed National Treasury’s decision to move out, by a year, the date for implementing the two-pot retirement system but still believes the new […]
Other concessions by Treasury on potentially ambiguous two-pot provisions
National Treasury has proposed amending the draft two-pot retirement legislation to clear up a number of grey areas identified by stakeholders. The proposed changes were announced on Tuesday, when Treasury addressed the National […]
Two-pot retirement legislation must provide for immediate relief, says Cosatu
Cosatu has called for fund members to be allowed to access their accumulated savings when the two-pot retirement system takes effect, to prevent them from resigning and cashing out their savings. This was […]
Top 10 points of interest in the planned two-pot system for retirement savings
When asked by the host on a talk show what the African equivalent of the Spanish word mañana is, the guest from our continent answered: “We do not have any word that describes […]
‘Low-cost benefit framework could give a third of South Africans access to basic private health care’
Up to 20 million low-income South Africans could afford basic private healthcare services if the Council for Medical Schemes (CMS) developed a framework for low-cost benefit options (LCBO), according to Business Day. The […]
Compulsory vaccination increasingly likely
Making vaccination compulsory to enter workplaces and certain public spaces seems a certainty if the statements from the government, business and labour this week are anything to go by. In a televised address […]
Old Mutual employees must be vaccinated from 1 January
From 1 January next year, Old Mutual employees will have to submit proof that they have been vaccinated against Covid-19. This follows similar announcements in September by Discovery Health and in October by […]
