Two-pot retirement system: who will be the winners and the losers?
Sanlam’s modelling looks at the impact of the system’s conflicting aims: higher preservation rates and access to savings.
Author: Moonstone Information Refinery
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Benchmark Survey: 1 in 5 South Africans doubt they will be able to retire
Report also flags the decline in employers making it compulsory for employees to join a medical scheme.
What accountable institutions should consider when screening employees
Complying with the FIC’s Directive 8 without falling foul of the Employment Equity Act, which protects employees from unfair discrimination.
Shift in Discovery Life claims as Covid moves from pandemic to endemic
The reduction in Covid-19-related death claims in 2022 was offset by increasing morbidity trends.
Features of accidental death product lead consumers to think they’re buying a funeral policy
An insurer has a duty to draw a policyholder’s attention to any usual term or condition, the ombudsman says.
A handy guide to the payment of retirement fund contributions for trustees
What you should know about reporting, calculating penalty interest, the in duplum rule, and the employer’s liability.
Update: Fica webinar for new accountable institutions is now fully booked
We are giving away two-and-a-half hours of Fica compliance expertise on 7 June.
End of compulsory audit firm rotation rule ‘poses minimal threat in the short term’
Irba says it will work with Parliament to address the technical legal issue raised by the Supreme Court of Appeal’s judgment.
Organised crime and illicit trade are sucking billions out of the economy
The lockdowns provided illicit traders with a golden opportunity to expand their activities, report says.
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Ruling on whether a Covid claim was excluded prior to the completion of underwriting
The Ombudsman for Long-term Insurance finds that the policy wording did not support what Old Mutual intended to achieve.
Sanlam notes uptick in sickness, disability claims among younger South Africans
The total value of claims in 2022 was 23% lower than in 2021, partially because of a marked decrease in Covid-related claims.
Momentum’s sales of long-term savings and protection products under pressure
And Momentum Insure takes a knock from the higher cost and the increased frequency of claims.
Section 14(1) ‘knowledge test’ under the spotlight in two debarment matters
In one case, the FSP was still investigating the alleged fraud when it decided to bar the representative.
Trustees of non-PFA fund not bound by a member’s nomination form
A reviewing body will have grounds to intervene only if a fund fails to take into account relevant considerations and ignores irrelevant considerations.
Old Mutual’s gross written premiums up 19% in the first quarter
Life insurance sales down slightly as the group stops selling certain products in China.
