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Author Archive | Janine Geldenhuys

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social-medias

Social Media – Not just for millennials

“Aside from the controversy it’s found itself in because of its involvement in spreading ‘fake news,’ Facebook is still possibly the most powerful social media platform on Earth”, Johnny Sandquist, owner of Three Crowns Copywriting and Marketing, recently shared in an blog post published on the Covisum website. He further explains that although the social […]

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calculation

Calculation of pension payouts – Complexities of transfers and switching

Parties that are aggrieved by decisions of the Pension Funds Adjudicator may lodge appeals with the Financial Services Tribunal. The Financial Sector Regulation Act, 9 of 2017 (“FSR Act”) considers the Pension Funds Adjudicator as a “decision-maker” and his/her decisions are “decisions” as respectively defined in paragraphs (e) and (d) of section 218 thereof. This […]

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curch

Sins and taxes – Enforcing tax laws on churches could be problematic

While the legislation that governs tax exemption for religious institutions is robust, enforcing compliance could be difficult, Louis Botha, an associate in Cliffe Dekker Hofmeyr’s (CDH’s) Tax & Exchange Control practice recently mentioned. According to Botha, while there is nothing wrong with the legislation that governs how churches and other religious institutions are taxed, enforcement […]

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law.2

Financial Services Tribunal – New premises and new rules

Background of the Tribunal The Financial Sector Regulation Act 9 of 2017 establishes the independent Financial Services Tribunal in terms of section 219 thereof. The Tribunal replaced the FSB Appeal Board and came into effect on 1 April 2018. Upon application by aggrieved persons, the Tribunal reconsiders decisions of decision-makers as defined in terms of section 218 of […]

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House

Homeowner’s insurance – Beware of wear and tear

In 2018, 58% of complaints considered by the Ombud for Short Term Insurance (OSTI) under homeowner’s insurance related to claims for damage caused by acts of nature. These claims relate primarily to storm related loss. According to Ayanda Mazwi, a senior assistant Ombud, the primary cause for complaint, at 48%, was the rejection of claims […]

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saving-oldmutual

Old Mutual Savings and Investment Monitor – Painting a brim picture of South Africans’ money matters

“Tracking trends provides valuable insights into the current and future financial services needs of our customers.” This is one of the objectives of the Old Mutual Savings & Investment Monitor, an annual study that is released to support the national drive to strengthen South Africa’s savings culture. The inaugural measure was taken in 2009 and […]

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retirement

Retirement – Guide your client to retire comfortably

Most South Africans can’t afford to retire. The fact is that the majority rely heavily on income from a salary because their pension income is insufficient to support them. According to the 2019 Old Mutual Savings and Investment Monitor, a large number of South Africans earning at least R15 000 a month were delaying retirement because […]

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