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.
Author: Nettalie Viljoen
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’.
Grim outlook for Classic’s creditors – shortfall exceeds R70 million
The second creditors’ meeting will be held on 3 September.
Two-pot retirement system – don’t be the weakest link
As the two-pot retirement system goes live on 1 September, intermediaries must prepare to guide clients through the new structure.
Medical scheme placed under statutory management as reserves plummet
The deterioration in Sizwe Hosmed’s reserves is attributed to ‘benefit under-pricing and historically unreliable budgetary and forecasting processes’.
Is Jooste’s frozen estate next on the SARB’s radar?
The South African Reserve Bank has seized more than R6 billion from various Ibex Investments accounts, previously Steinhoff.
Bonitas plans to ‘return’ up to R700m in reserves to members
The medical scheme says it will use its reserves to limit contribution increases, while possibly improving members’ benefits and reducing co-payments.
How NHI could cost employers and employees
It is expected that scrapping the medical scheme tax credit will be the first measure designed to raise revenue for NHI.
Investors demand justice as alleged ‘Ponzi mastermind’ remains free
Victims of the Classic Financial Services scheme express dismay that director Cobus Geldenhuis remains at large amid accusations of defrauding investors.
Steinhoff former execs accused of reaping hundreds of millions through ‘fraudulent efforts’
The NPA indictment against former executives Stéhan Grobler and Ben la Grange details how they earned millions due to inflated share prices based on false profits.
How the Steinhoff Group propped up its profits
The National Prosecuting Authority’s indictment against former Steinhoff executives lays bare a ‘sophisticated washing machine’ that generated ‘entirely illusory profits’.
Medihelp’s solvency ratio drops below threshold amid high claims and rising costs
Medihelp submitted a CMS-approved three-year plan, requiring gradual contribution increases to restore its reserves to the statutory 25% level.
Forensic audit traces Classic Financial Services’ missing millions
The joint liquidators have auctioned Cobus Geldenhuis’s residence and taken control of all movable assets belonging to him and his ex-wife, Jackie.
Classic Financial Services director and wife’s R66m gambling spree
The estates of the son and former wife of the director of Classic Financial Services have been sequestrated.
