Flexible income now, guaranteed income later: Discovery’s answer to longevity risk
Discovery Invest’s new retirement offering combines a living annuity’s market exposure and income flexibility with a lifetime guarantee that kicks in from age 80.
Industry News
Collusion investigation: Wesbank and Toyota to pay R30m fine
The agreement resolves a probe into alleged market-division in Toyota vehicle finance and removes restrictions that blocked WesBank from competing at dealerships.
Treasury official to run GPAA amid probe into procurement transactions
National Treasury has opened a forensic investigation into procurement deals after irregularities in contracts totalling more than R1.2bn were reported.
Retirement funds urged to harness trillions for Africa’s transformation
IRFA president Geraldine Fowler calls on retirement funds to invest for impact, strengthen operations, and shape reforms, stressing their power to drive both financial security and societal change.
Facing the future: how insurance is evolving to tackle uncertainty
Santam’s Thabiso Rulashe on how insurers are adapting to stay resilient – and profitable – in an era of rising risks.
Banxso will contest provisional liquidation order
Judge says there is a prima facie case that the trading platform does not operate within the confines of the law.
SA residents face taxation on previously untaxed foreign pension benefits
The amendment treats foreign pension benefits like other residence-sourced income, shifting the retirement planning landscape for South Africans who worked overseas.
Umbrella funds boom – advisers should assess fit, not just fees
For smaller employers facing rising compliance and governance costs, umbrella funds usually deliver better cost-efficiency and reduced fiduciary risk.
Proactive regulation key to market integrity, says Kamlana
The FSCA is closing the prudential gap between banks and non-bank OTC derivative providers, signalling higher capital and risk-management standards.
Competition Commission backs Fedhealth–Medshield merger
Fedhealth’s acquisition of Medshield comes after Sanlam named Fedhealth its exclusive open medical scheme partner.
SARB moves to liquidate community bank
Ditsobotla is in worse financial shape than previously thought, and the resolution process is unlikely to turn things around.
When algorithms collude: how AI may break competition law without intent
Experts warn that AI tools may quietly drive price-fixing and collusion, posing a new threat to competition law.
Average living annuity drawdown rate drops below 6% for the first time since 2011
Strong market returns and rising balances have prompted many retirees to reduce withdrawals – a trend ASISA encourages annuitants to maintain.
Labour inspectors to regain power to enforce contribution compliance
The Department of Employment and Labour is withdrawing a determination that prevented inspectors from enforcing section 34A of the BCEA.
Syndicates falsely claiming links to JSE and FSCA
Two WhatsApp-based syndicates are misrepresenting links to the JSE and the FSCA and unlawfully soliciting funds.
South African insurers harness AI to spot risks sooner and serve clients better
From early-warning systems in liability cover to behaviour-based motor premiums, local insurers are adapting AI tools to South Africa’s unique risks.
High Court allows OMART to search underwriting manager’s premises
Old Mutual Alternate Risk Transfer wants to access data held by SA Guarantee Specialists after discovering that offshore guarantees were issued without authorisation.
