There will be dire consequences for the economy if South Africa’s measures to combat money laundering and terrorism financing are not brought up to international standards this year, the Financial Intelligence Centre (FIC) […]
The annual costs to fund the Corporation for Deposit Insurance (CoDI) and the Deposit Insurance Fund (DIF) will work out to R14 per qualifying depositor, National Treasury told Parliament’s Standing Committee on Finance […]
The FSCA forecasts it will have a total income of R949 million in the 2022/23 financial year, while its operating expenditure will be R967m, leaving it with a shortfall of R18m. This emerged […]
The Taxation Laws Amendment Act (TLAA) of 2021, which, among things, gives retirement fund members greater flexibility in terms of the type of annuities they can purchase, was promulgated on 19 January. The […]
FSPs will pay significantly higher levies if the Financial Sector and Deposit Insurance Levies Bill is passed into law in its current form. The Minister of Finance introduced the bill and the Financial […]
National Treasury has published a discussion paper, for public comment, on the two-pot system for retirement savings, which will allow for limited pre-retirement withdrawals, and on mandatory retirement savings for all employed and […]
Average administrative costs per retirement fund member increased from 2006 to 2018, but this overall increase conceals that average costs have fallen for particular fund types and classes and benefit structures. This is […]
A number of complex issues on how the proposed “two pots” retirement system will work in practice still have to be clarified, and fund members who are expecting immediate access to their savings […]
A number of complex issues on how the proposed “two pots” retirement system will work in practice still have to be clarified, and fund members who are expecting immediate access to their savings […]
National Treasury’s second draft amendments to Regulation 28 of the Pension Funds Act have relaxed the restrictions on investments in infrastructure and will prevent funds from investing in crypto assets. Treasury said it […]
The Actuarial Society of South Africa (ASSA) has released research suggesting that National Treasury’s “two-bucket” proposal, which will allow retirement fund members to access a portion of their retirement benefits for emergencies, will […]
The South African Special Risk Insurance Association (Sasria) has once again assured claimants that it has sufficient reserves, including through its reinsurers, to meet all valid claims arising from the unrest that rocked […]
The South African Special Risk Insurance Association (Sasria) has once again assured claimants that it has sufficient reserves, including through its reinsurers, to meet all valid claims arising from the unrest that rocked […]
National Treasury has published draft regulations that will make the provision of a benchmark a financial service that will regulated and supervised by the FSCA. “The integrity of benchmarks is critical for the […]
National Treasury has published draft regulations that will make the provision of a benchmark a financial service that will regulated and supervised by the FSCA. “The integrity of benchmarks is critical for the […]
National Treasury has reiterated that the government will ensure that Sasria can meet its claims obligations. Treasury deputy director-general Ismail Momoniat told the Money Show on Tuesday: “Right from the start, the president […]
National Treasury has reiterated that the government will ensure that Sasria can meet its claims obligations. Treasury deputy director-general Ismail Momoniat told the Money Show on Tuesday: “Right from the start, the president […]
