Retirement fund arrears rise to R8.33bn despite R1bn in recoveries
Late-payment interest now accounts for almost half of arrears, suggesting unpaid contributions are remaining outstanding for longer.
Employers
50% surge in employers in arrears with retirement contributions
Unpaid contributions rose to R7.29bn, and 62% of delinquent employers are in the motor and private security sectors, according to FSCA data.
Guidelines published on how to file arrear contribution reports
The FSCA says submissions have either not been in the prescribed format or contain incorrect information.
Final countdown for administrators and employers to prepare for the two-pot system
Discovery Corporate and Employee Benefits provides a checkist of what employers should be doing before 1 September.
Reminder: conduct standard on retirement fund contributions is now in effect
Conduct Standard 1 of 2022 aims to help eradicate non-payment of retirement fund contributions by employers.
Retirement funds and salaries are not a refuge from the taxman
Lump sums, monthly annuities and salaries are not off-limits to the long arm of the taxman. Taxpayers who have failed to pay their tax debts in full to the South African Revenue Service […]
How often should employers review their umbrella fund provider?
The 2019 Sanlam Benchmark Survey found that one-third of employers using umbrella funds have never reviewed their provider, while less than half of respondents conducted a review of their provider every one to […]
