New era for Raging Bull Awards as passive funds join the line-up
This is one of the significant changes to the eligibility criteria.
Industry News
Rising costs prompt members to weigh medical scheme options
Downgrading to a lower plan may appear to be a cost-saving strategy, but it frequently results in increased out-of-pocket expenses.
Deadline looms for Classic Financial Services’ victims: final call to claim
The liquidators of Classic Financial Services One are continuing with the collection of debts ‘to collect as much funds as possible for the estate’.
SARS will tighten the compliance screws to hit R1.84 trillion tax target
The MTBPS shows tax revenue will be below the Budget estimates, but SARS is adamant it will do everything in its power to collect as much money as it can.
ASISA says revised classification standard will make unit trust comparisons easier
The higher offshore investment limit necessitated a review of the standard.
Fiscal challenges: insights from the 2024 Medium-Term Budget Policy Statement
The Medium-Term Budget Policy Statement reveals a budget surplus and reduced wage bill, but it warns of ongoing financial pressures due to modest economic growth projections.
SA racing against February deadline if it wants to exit grey list by mid-2025
National Treasury tells companies and trusts to submit their beneficial ownership information by the end of November.
FAIS Ombud’s report highlights pitfalls in client communication
From misrepresented investment products to overlooked policy details, the cases show how advisers can better serve clients by providing clear, timely, and relevant information.
Old Mutual pays out R2.3bn in over 200 000 two-pot withdrawal claims
Financial advisers warn that even small withdrawals can significantly erode retirement income over time.
Bestmed defends 12.75% 2025 contribution hike as industry faces cost pressures
Bestmed states pending rules for low-cost benefit options have further complicated efforts to reduce costs for members.
Fedgroup grows agri-finance beyond borders to offset South Africa’s economic risks
First ventures in Mozambique and Zambia are just the beginning, says Fedgroup.
SARB unfreezes R9bn: a win for Ibex Holdings in settling foreign debts
The SARB plans to continue enforcement action against Ibex Holdings, formerly Steinhoff, and other parties but may consider a settlement to resolve the matter.
Treasury accepts most of the industry’s two-pot proposed amendments
Among other things, the revised Amendment Bill will clarify how funds should calculate seeding when provident fund members choose to join the system.
Consumer settlements rise as FAIS Ombud sharpens complaint handling
More than R39m awarded to consumers as complaints settled in their favour increased from 29% to 35% in 2023/24.
Class action litigation in SA could spike with ‘non-attack’ data breach claims
Improper data handling could lead to expensive claims, and stronger enforcement of POPIA is critical to preventing future litigation, say legal experts.
Former Joburg mayor arrested for alleged funeral insurance scam
Kabelo Gwamanda is accused of conning Soweto residents through his company, Ithemba Lama Afrika, leaving policyholders stranded when the business vanished in 2012.
Rethinking inflation: SARB’s governor on achieving lower rates without sacrificing growth
Having reached the target of 4.5% with ‘little or no cost’, Lesetja Kganyago argues that South Africa can achieve permanently lower inflation and interest rates.
