SARB: Two-pot system adds two percentage points to PIT growth
Even after record withdrawals, retirement fund assets expanded in the third and fourth quarters of 2024, driven by movements in financial markets.
Industry News
Fake traders, false promises, and fraudsters abusing big names
From Facebook investment scams to impersonators posing as Sygnia’s CEO, the FSCA has issued multiple warnings against unauthorised operators.
Government opposes taking full ownership of the Reserve Bank
Treasury cautions that the forced acquisition of two million private SARB shares could breach bilateral treaties and unsettle investor confidence.
CODI hits R20bn target in first year of operation
With systems in place and 95% of depositors fully covered, CODI is stepping up its readiness to handle a potential bank failure.
Top achievers share how MBSE’s Advanced Certificate helped them level up in financial planning
Emily Broodryk, Elisha Govender, and Francesca Taylor recommend the qualification to financial advisers who want to deepen their expertise.
Subrogation ruling ‘has far-reaching consequences’ for insurers
The ruling requires insurers to plead subrogation and join as parties in civil actions, departing from long-standing practice that allows insurers to step into their insured’s shoes without separate citation.
Revival of Road Accident Benefit Scheme gains momentum
The RABS Bill promises faster, no-fault compensation but has previously been criticised for limiting victim rights and excluding vulnerable groups.
Discovery members ‘make the Smart move’, while KeyCare loses ground
The decline in KeyCare Plus membership reflects a reduction in employer subsidies and fewer mandates for medical scheme membership, DHMS says.
Tribunal upholds R1m fine and 15-year debarment for unlicensed trading
Mareo-John Nel breached the FAIS Act after signing an enforceable undertaking to remedy the same unlawful conduct he committed previously.
Insurers using tech to beat scammers at their own game
Beyond one-off fakes, syndicates are exploiting AI to reuse damage photos and cloned invoices across multiple claims.
South Africans’ ‘retirement plans’ driven by unrealistic assumptions
FNB survey also finds that most under-60s expect to work beyond their retirement age, with only 10% planning a full stop.
Full disclosure is essential as farming operations evolve
Changes such as joint ventures, investing in infrastructure, and switching to higher-value crops can introduce risks that may not be covered.
Customary vs civil marriage: court rules they cannot co-exist
Judge dismisses claim both marriages are valid, sending dispute back for further evidence on the customary marriage’s existence.
The case for trusting Statistics SA’s unemployment data
While sub-national surveys may capture bustling township enterprises, they risk aggregation bias if extrapolated directly to the country as a whole.
Consumers adjusting insurance covers to cope with rising cost of living
Santam says clients are opting for core covers only, part-insuring assets, increasing excesses, and taking risk-mitigation measures to reduce premiums.
Medihelp’s solvency dips again, but scheme says recovery plan is working
Medihelp says its recovery plan is on track, with strong cost controls, younger members, and CMS-approved funding measures set to restore financial stability by 2026.
SCA: purchasers bear the risk of cyber-fraud when paying by EFT
If a buyer transfers funds after relying on altered invoice instructions, the contractual obligation remains unfulfilled until the seller’s nominated account is actually credited.
