Massive interest in two-pot withdrawals puts administrators to the test
As the two-pot system rolls out, fund administrators are receiving a wave of withdrawal claims, highlighting the financial squeeze many are feeling.
FAIS Ombud highlights need for follow-up when a policy changes materially
Determination says a ‘reasonable broker’ would supplement a bulk email with an email or phone call to ensure the client is aware of new conditions.
What medium and large administrators are charging for savings ‘pot’ withdrawals
Administrators may be in for a ‘windfall’ of R500 million to R1 billion a year in future tax years, says Keystone Actuarial Solutions.
Watch: MBSE launches RE training for FAIS representatives
This video explains the essential features of Moonstone Business School of Excellence’s new comprehensive RE 5 training.
Watch: FPI Financial Planner of the Year on key issues shaping the financial landscape
In this video interview, Rudolph Geldenhuys, the FPI Financial Planner of the Year, shares how financial planning goes beyond technical expertise.
Cosatu wants urgent discussions with Treasury over changes to two-pot system
One of its four proposals is to allow members to transfer up to a third of their vested savings to their savings component.
Ruling clarifies separate agreement fees under the National Credit Act
Fees in separate agreements between a service provider and consumers are not automatically illegal, provided they are kept separate from the fees regulated under the credit provider’s agreement.
Health Minister refuses to say how NHI will be funded
Motsoaledi insists that equalising healthcare shouldn’t be held back by funding concerns, and he challenges the assumptions behind the cost estimates.
Sanlam’s R2.4bn investment signals deeper ties with African Rainbow Capital
Following its recent R6.5bn acquisition of Assupol, Sanlam wants to expand its footprint in the financial services industry with a 25% stake in ARC FSH.
Estate provisionally sequestrated 13 years after pyramid scheme exposed
The High Court places the estate of Adelaide Musa Duma under provisional sequestration for her role in TVI, once SA’s biggest pyramid scheme.
‘Severe consequences’ for employees involved in hacking taxpayer profiles
The Tax Ombud is investigating SARS for potential service failures in addressing eFiling hijacking, with a review under way to uncover systemic issues.
FSCA registers 88% of retirement fund rule amendments
With 748 applications approved and only 98 pending, the Authority says it’s on track to finalise all outstanding matters by the end of the week.
Moonstone Business School of Excellence launches training for FAIS representatives
MBSE’s RE 5 training is a comprehensive course designed to enhance your understanding of key regulatory frameworks and real-world applications.
Experts warn of financial literacy crisis, call for co-ordinated action
At the FSCA Financial Education Summit, industry leaders outlined the shortcomings of current financial education efforts and the need for a strategic overhaul.
Two strikes and you’re out: SARS clarifies tax practitioner registration
An Interpretation Note provides clear guidelines on when a practitioner can be prohibited from registering or deregistered due to non-compliance.
Court orders car dealership to refund consumer after blaming defects on driving style
The NCC has prioritised the second-hand motor vehicle industry due to the high volume of complaints from dissatisfied consumers.
Santam reports 34% net income growth despite rising weather-related claims
The group attributed the turnaround in motor insurance to managing claims inflation and improving risk selection, resulting in a significant reduction in claims frequency.
Beware the tax impact on withdrawals from your savings ‘pot’
Avoiding the tax hit is one of the reasons retirement fund members should have an emergency fund.
