The ruling underscores that disputes over unapproved disability claims underwritten by insurers through employer-held policies must be addressed with employers and insurers.
The group’s latest trading update discloses a 19% surge in gross flows and a rebound in net client cash flows.
Financial advisers warn that even small withdrawals can significantly erode retirement income over time.
The system is driving a shift in how members engage with their retirement funds. Members are monitoring their savings and reacting to market fluctuations, says Old Mutual.
The SA Retirement Annuity Fund is looking to the Supreme Court of Appeal to overturn a High Court decision in favour of the Pension Funds Adjudicator.
King Price came out top in DataEQ’s latest Insurance Sentiment Index, which analyses what consumers are saying about their insurers.
More than 60% of two-pot withdrawal applicants have come from low-income groups, according to Momentum’s latest figures.
As the two-pot system rolls out, fund administrators are receiving a wave of withdrawal claims, highlighting the financial squeeze many are feeling.
The former Old Mutual adviser claimed the complainants were not his clients but his relatives who had agreed to lend him the money.
Funds that cannot pay withdrawals because their rules are invalid must inform members why they may not be allowed to access their benefits.
Old Mutual’s learnings about what people know or expect, based on its interactions with customers and advisers.
The allocations to the savings component can happen only from 1 September onwards, says Old Mutual.
The expected legal challenges to the legislation and the pressure on the state’s finances could delay full implementation of the system for many years.
The group is shifting from ‘bank-build mode’ to a testing phase with select banking partners.
DA MP takes Old Mutual to task for comments suggesting the 1 September implementation date ‘may slip’.
South Africa’s second-largest insurer is set to launch a bank that will focus on capturing the mass market segment.
A pioneering approach that integrates climate data with claims data is set to transform insurance risk management in South Africa.
