Data reveals trends in members’ two-pot withdrawals
FSCA plans to issue guidance on what it considers to be a fair and transparent approach to transaction fees.
Industry News
Financial abuse: the hidden weapon of gender-based violence
During the 16 Days of Activism, financial adviser Jessica Pillay urges women to identify economic abuse and gives advice on how to reclaim their independence.
Unpaid contributions: FSCA prepares to hold non-compliant employers accountable
With over R5.2 billion in unpaid retirement fund contributions and municipalities among the worst offenders, the FSCA is poised to gain expanded powers under the COFI Bill.
Court ruling highlights discovery dispute in R16-million insurance claim
The High Court has dismissed challenges by a policyholder accused of defrauding Discovery Life of more than R16m in disability and income protection claims.
Sanlam partners with Ninety One in R400 billion asset deal
Ninety One will acquire Sanlam Investment Management and oversee investment management for Sanlam Investments UK.
R35bn withdrawn as SARS reports unprecedented two-pot system activity
Some 20% of applications for tax directives were rejected.
Betrayal and greed: two chilling cases of insurance fraud-related murder
In one case, a woman orchestrated the killing of her cousin’s partner, and in the other, a couple lured and murdered a man, using his death to stage a life insurance scam.
Restraint of trade binding on a consultant, High Court finds
The classification of a person as a consultant is not determinative in deciding whether a restraint of trade applies.
CIS industry sees R42.3bn in net inflows as investor confidence rebounds
Assets under management grew to a R3.8 trillion, up 13.7% year-on-year, supported by strong equity market performance.
National Treasury eyes digital public infrastructure overhaul
But with challenges around outdated systems, procurement bottlenecks, and cybersecurity risks, will the government be able to harness the full potential of South Africa’s digital future?
GEPF receives R10.6bn in two-pot withdrawal applications
More than 361 000 members of the GEPF have accessed their savings under the two-pot system, averaging R27 500 per claim.
FSCA warns against unlicensed financial services providers
The Authority highlights the activities of JLD Investments and Investin Gain Trading.
Old Mutual reports double-digit growth in gross flows
The group’s latest trading update discloses a 19% surge in gross flows and a rebound in net client cash flows.
Sanlam sees strong growth across all business lines
The group’s new business volumes in life insurance grew by 12%, while net operational earnings rose by 17%.
Average living annuity drawdown rate lowest in five years
The marginal decrease in the average drawdown rate is noteworthy because it occurred in an environment of rising living costs, says ASISA.
Concerns about proposed tax policy framework for alcohol industry
The proposed minimum unit price for alcohol could make drinking less affordable and curb harmful consumption, but critics argue it may unintentionally fuel the already substantial illicit alcohol market.
Preparing retirement funds for an uncertain future: embracing change, ESG, and emerging trends
Carina Wessels of Alexforbes discusses the urgent need for retirement funds to ‘learn forward as they lean forward’ to ensure long-term sustainability and relevance.
