Adjudicator to propose holding trustees personally accountable for non-payment of contributions
Muvhango Lukhaimane will also consult with trustees on guidelines for naming and shaming problematic funds, administrators, and employers.
Author: Nettalie Viljoen
Retirement funds are the new ‘must-have’ – thanks to the two-pot system
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.
RAF makes noise while silence reigns on draft Road Accident Amendment Bill
Judgment is ‘forthcoming’ in the contempt of court case against the Road Accident Fund and its CEO, as Discovery Health seeks the enforcement of court rulings regarding unpaid claims.
As medical schemes announce hikes, members brace for tough choices amid rising costs
With major medical schemes reporting average contribution hikes exceeding 9%, members face tough choices in an increasingly unaffordable healthcare landscape.
Opportunity for young professionals to start their financial journey in the right way
Various financial practices will provide essential insights and guidance to young professionals at an event in Cape Town.
FIC cracks down on non-compliant accountable institutions
The FIC’s latest annual report shows that out of 558 inspections conducted during the year, 269 specifically targeted the non-submission of risk and compliance returns.
Investigation into ‘fruitless and wasteful expenditure’ continues as RAF bleeds another R1.6 billion
The investigation into the Road Accident Fund has uncovered a significant rise in default judgments, accumulating to R4.7 billion from 2018 through the second quarter of 2023.
Power surge: South Africans face potential 36% electricity bill hike
Eskom’s MYPD 6 revenue application indicates that the projected 36.15% price increase for FY2026 results from 10 new Negotiated Pricing Agreements, past regulatory decisions, rising coal-based energy costs, increased operating expenses, and an impending carbon tax.
Regulator battles for data privacy: major cases against SARS, SAPS and IEC
The Information Regulator gives feedback on cases tackled this year against various public entities to enforce compliance with PAIA and POPIA.
FSCA and National Treasury urge financial sector to unite on financial education charter
CEOs and other decision-makers have just under three months to provide input on the Draft South African Financial Education Commitment Charter.
Regulator pushes for stronger PAIA enforcement amid low compliance by public bodies
The Information Regulator’s upcoming guidance note clarifies that direct marketing via phone calls falls under POPIA’s consent requirements.
Delay in Classic Financial Services investigation: investors demand answers
Significant progress has been made in mapping Classic’s total investor portfolio.
Massive interest in two-pot withdrawals puts administrators to the test
As the two-pot system rolls out, fund administrators are receiving a wave of withdrawal claims, highlighting the financial squeeze many are feeling.
Experts warn of financial literacy crisis, call for co-ordinated action
At the FSCA Financial Education Summit, industry leaders outlined the shortcomings of current financial education efforts and the need for a strategic overhaul.
Alexforbes reinvents adviser partnerships: a strategic shift to empower best advice
Alexforbes is enhancing its relationships with independent advisers through targeted partnerships and a focus on building trust and value.
FSCA warns against Blueway Trades’ forex AI robot and social media tactics
One of the entity’s Facebook posts says it can turn R1 700 into R120 000.
BHI Trust fallout: beneficiaries reluctant to return millions amid sequestration scrutiny
Investors’ money was allegedly funnelled through offshore trust accounts and ‘cleaned’ via extensive gambling activities by ‘close and related-party enablers’.
