Deep flaws in SARS’s systems, OTO investigation finds
The Tax Ombud’s draft report on profile hijackings finds evidence of failures in SARS’s fraud prevention, detection, and resolution processes.
Industry News
FSCA collects R119m in fines amid record enforcement year
In response to South Africa’s greylisting, the Authority has grown its AML/CFT team, increased on-site inspections, and ramped up fines.
Contribution increases ease slightly – except for one scheme
Momentum Health is proposing to raise contributions by an average of 9.9% in 2026 – the highest increase among the five largest open schemes.
Two pots showing results, but success hinges on preservation and education
Industry experts say that small, unclaimed pots left behind by members pose a growing challenge that must be managed to protect long-term retirement outcomes.
Old Mutual warns about ‘Trevor Manuel’ deepfake investment pitches
Manuel’s reminder that only authorised individuals can provide financial product recommendations comes as the FSCA warns about four unlicensed entities/individuals.
Discovery delays 2026 contribution increase to April
Leading open medical schemes have announced increases above the CMS’s guidance, underscoring the tension between regulator calls for restraint and schemes’ funding needs.
Alexforbes defends legal position after Mabuza pension freeze
The High Court freezes payouts from the late former Deputy President’s R44.7m annuity amid a family dispute.
Simplifying PMBs to empower smarter client decisions
The second edition of our bi-weekly column unpacks Prescribed Minimum Benefits – what they are, which conditions they cover, and how they work in practice.
Funeral provider racks up 12 FAIS Ombud rulings against it
The FSCA revoked Luvuyo’s licence in August after a string of determinations found the firm failed to pay claims and operated without an underwriter.
Court upholds R200 000 fine on dealership for ignoring compliance notice
The judgment makes it clear that remedies under the CPA – refund or replacement – are enforceable and cannot be frustrated by delay or technical objections.
Roadworthiness is essential for valid insurance claims, Ombud warns
While insurers can decline claims involving unroadworthy vehicles, repudiations must be linked to the cause of the loss.
Alexforbes launches umbrella fund solution: Alexforbes One
Alexforbes has launched Alexforbes One, a new umbrella fund aimed at providing a unified solution for employers, intermediaries, and members.
What SA’s two-pot system can learn from international retirement models
Examining international retirement models reveals key lessons, from managing early withdrawals to ensuring disciplined investing and the critical role of financial advice.
RAF commits to clearing backlog of outstanding claims
The interim board says the Fund will prioritise claims older than 180 days, estimated at more than R20 billion.
Laser scar therapy can be a recoverable medical expense
The High Court’s ruling clarifies that clinically necessary cosmetic interventions can be recognised as legitimate past medical expenses in personal injury claims.
Trustees sue auditors for R147m over alleged N-e-FG fund mis-investment
The trustees allege Forvis Mazars failed to detect that retirement fund money was not invested according to mandates.
Minister can increase the fuel levy without parliamentary process
The Full Bench provides its reasons for dismissing the EFF’s attempt to halt the Minister of Finance’s decision to increase the general fuel levy.
