GEPF and other public sector funds ‘will be part of the two-pot system’
How accessibility and seeding will impact members of defined-benefit retirement funds.
Pension
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.
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Two pots: fund members must understand the implications of withdrawals
Money in the savings pot should be withdrawn only as a last resort, for absolute financial emergencies.
Preservation should be the top priority in the messaging about two pots
Administrators are concerned there is not enough time for financial advisers and members to understand the implications of the changes.
SA’s pension system slips further down the global rankings
Lack of coverage and poor preservation remain the major shortcomings.
Telkom has frozen an employee’s pension. Here’s why a judge has allowed it.
Telkom has succeeded in “freezing” a pension pay-out to a former employee it is suing for over R200 million. In a civil trial, Telkom alleges Andrew Johannes Jacobs sold information to its competitors. […]
5.5% increase for GEPF pensioners
Pensioners who belong to the Government Employees Pension Fund (GEPF) will receive a 5.5% pension increase on 1 April. Pensioners who retired on or before 1 April 2021 will receive the full increase, […]
Why SA’s pension system ranks 31st out of 43 in a global survey
Limited coverage and low preservation are the main reasons South Africa’s pension system once again got a C grade in this year’s Mercer CFA Institute Global Pension Index (MCGPI). The country’s overall score […]
SA retirement crisis – Are employers playing their required role?
The 10X Investments’ Retirement Reality Report (RRR20) discussed last week, confirmed SA’s looming retirement crisis and delved deeper into factors affecting people’s retirement planning in South Africa. Looking at the role of employers […]
The lowdown on pension-backed home loans – Guidance on access for your clients
Amid house prizes going down and interest rates at a real low, many individuals might consider buying their first home, or scaling up or down. This relates to finding a property, making an […]
The lowdown on pension-backed home loans – Guidance on access for your clients
Amid house prizes going down and interest rates at a real low, many individuals might consider buying their first home, or scaling up or down. This relates to finding a property, making an […]
Conduct Standard for Pension Fund Board members – Minimum skills and training requirements spelt out
After a comprehensive public consultation process and submission to Parliament, as required in terms of section 103 of the Financial Sector Regulation Act, 2017 (FSR Act), the FSCA has published the Conduct Standard […]
Conduct Standard for board members of pension funds – Revised draft published
The Financial Sector Conduct Authority (FSCA) has published a revised draft Conduct Standard for determining the minimum skills and training requirements for board members of pension funds. The revised draft minimum skills and […]
Draft Conduct Standard – Pension contribution recovery process tightened
Towards the end of last week, the Financial Sector Conduct Authority (FSCA) published a draft Conduct Standard and supporting documents on the Requirements related to the payment of pension fund contributions. According to […]
Draft Conduct Standard – Pension contribution recovery process tightened
Towards the end of last week, the Financial Sector Conduct Authority (FSCA) published a draft Conduct Standard and supporting documents on the Requirements related to the payment of pension fund contributions. According to […]
COVID-19 – FSCA provides guidance for retirement funds industry
The FSCA has issued guidance for regarding employers who are unable to pay the full or any contributions on behalf of their employees to their retirement funds in accordance with section 13A of the […]
Pension Benefits – Permissible deductions where fraud is alleged
A recent determination by the Financial Services Tribunal concerned the PFA’s order to release withdrawal benefits to employees. The employer challenged this decision as it originally withheld the benefits based on a disciplinary […]
