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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Blessing Utete, the managing executive of Old Mutual Corporate Consultants, spoke to Mark Bechard, the managing editor of Moonstone publications, about National Treasury’s draft legislation for the two-pot retirement system. Read: Treasury publishes […]
An increase of R39 billion in the value of household debt and a decrease of R1.19 trillion in the value of household assets saw South Africans’ wealth (expressed in current prices) decrease by […]
The past 30 years have seen a significant move away from employer-sponsored standalone retirement funds to employers participating in commercial umbrella funds. The trend has been driven by the regulator wanting fewer retirement […]
The FSCA is taking regulatory action against past and present trustees of the Private Security Sector Provident Fund (PSSPF) after concluding its three-year investigation into the board. In a statement, the FSCA said […]
In the desperate times of the cascading waves of Covid-19, South Africa’s life insurers, and especially group insurers of employee-based schemes, played a critical role in ensuring financial inclusivity by providing insurance cover […]
Retirement funds will have to invest in upskilling trustees to empower them to navigate the complex world of infrastructure investing opened up by the gazetting of the amendments to regulation 28 of the […]
Retirement funds will be able to invest up to 45% of their assets in infrastructure from 3 January next year, when the amendments to regulation 28 of the Pension Funds Act take effect. […]
The FSCA’s “Regulation Plan: 1 April 2022 to 31 March 2025”, which was released last week, highlighted certain high-priority areas that it aims to address in this period. Mark Bechard of Moonstone reports […]
The FSCA has told retirement funds and fund administrators to submit information about their paid-up members, setting a deadline of 31 October for information relating to new paid-up members. In March, the FSCA […]
Estate planning involves structuring and managing your assets while you are alive and putting measures in place to ensure your wishes are carried out after you pass away. It also ensures that there […]
Business Day reported on an FSCA briefing for the select committee on finance on Tuesday on the current status of the Conduct of Financial Institutions (Cofi) Bill. “The Treasury is processing the bill. […]
The number of retirement funds applying for liquidation increased by 21.5% between 2019 and 2020 because of financial distress as members’ contributions fell when employers cut salaries or laid-off staff and businesses closed […]
The Gauteng High Court has overturned a determination by the Pension Funds Adjudicator, ruling that she exceeded her jurisdiction and did not follow a fair procedure when deciding that a fund’s amended rule […]
The FSCA has withdrawn its request for retirement funds to provide it with information, every three months, about their paid-up members and unclaimed benefits. Read: Funds given until 6 May to submit information […]
The FSCA is ramping up its efforts to trace unclaimed benefits and wants retirement funds and administrators to provide it with information, every three months, about their paid-up members, in addition to information […]
The government proposes to address anomalies in the Income Tax Act to ensure that members of pension and provident funds are treated alike, according to proposals announced in the Budget Review. The anomalies […]
