Sars has its eye on South Africans working abroad
The 2022 tax season is around the corner, and it will be one of the shortest to date. The period to submit tax returns will be open from 1 July to 24 October […]
Life insurers top R5 trillion as growth masks rising risk pressures
Strong market performance lifts assets to record highs, but lapses and protection gaps persist beneath the surface.
SCA thwarts man’s bid to keep assets from his wife during divorce trial
A wealthy Durban businessman has failed in his bid to “hide” more than R5.5 million from his wife. He had hastily established a trust and repaid his father an old debt. The Supreme […]
Medical schemes are robust with healthy reserves, Sustainability Index shows
The membership of South African medical schemes was resilient during the Covid-19 pandemic despite rising unemployment and the slowdown in economic growth, according to the latest Alexforbes Sustainability Index. Membership of the analysed […]
Advisory intermediaries urged to draw up agreements to limit their liability
The risk landscape in which FSPs are operating is becoming more complex and difficult, and advisory intermediaries should take steps to protect themselves by entering into service contracts that will limit their liability, […]
CMS proposes changes to the appointment of brokers by employers on behalf of employees
The Council for Medical Schemes (CMS) is proposing to introduce new guidelines on the appointment of brokers by employers on behalf of employees. In a circular published this week, the CMS said it […]
Moonstone warns of fake regulatory exam certificates
Scammers continue to defraud people by claiming they can issue certificates – for a fee, of course – for the FSCA’s regulatory exams. In September last year, we exposed individuals operating on social […]
Health department will seek to have ‘anti-NHI ruling’ set aside
The Department of Health (DoH) will seek to set aside the Pretoria High Court’s ruling that a certificate of need (CoN) is unconstitutional and invalid, saying the court’s decision has “serious implications” for […]
NHI will be phased in, says Phaahla
Health Minister Dr Joe Phaahla has once again indicated that National Health Insurance (NHI) will be phased in based on the funds available. Earlier this month, Dr Phaahla told a virtual event hosted […]
Old Mutual pays out a record R21.2bn in claims in 2021
Old Mutual paid out R21.2 billion in claims in South Africa last year, 51% higher than in 2020, according to its latest claims statistics report. “The significant increase in pay-outs of 51% bears […]
Two-pot retirement system may take up to five years to implement
Ismail Momoniat, the acting director-general of National Treasury, told the Pension Lawyers Association virtual conference in May that retirement reform is alive and well, although the various proposals still need to be consolidated. […]
‘Employers may still require employees to wear masks’
Workplaces where there is a high risk of Covid-19 transmission may insist that employees continue wearing masks even though some of the Regulations Relating to the Surveillance and the Control of Notifiable Medical […]
Quo vadis, compliance reporting?
The process involved in replacing the old compliance reports, which were last required for the 2017 financial year, reminds me of a joke in a rag magazine, many years ago, about a new […]
Group disability benefits: ‘adapt or die’
Without a new approach to managing risk, group income disability benefits are headed for extinction and, in the retail market, only the rich will be able to afford these benefits, says Reinier van […]
Retirement benefit counselling has an impact on how much members take as cash
Proper counselling when employees change jobs or reach retirement makes a significant difference to the portion of their savings employees take as cash, but few employees are receiving this kind of advice, according […]
What you should know about auto-assessments in the 2022 tax filing season
The South African Revenue Service (Sars) has introduced some changes to the auto-assessment process this year to make it easier for taxpayers to file their income tax returns. If you are not a […]
FSCA wants information on paid-up retirement benefits
The FSCA has told retirement funds and fund administrators to submit information about their paid-up members, setting a deadline of 31 October for information relating to new paid-up members. In March, the FSCA […]
Prepare for two massive repo rate hikes, says commercial bank
The South African Reserve Bank (SARB) will hike the repo rate by 75 basis points in both July and September – well above the consensus expectation, according to international banking group BNP Paribas. […]
