Gambling surge strains retirement savings and prompts tax response
Old Mutual findings and industry commentary show gambling is reshaping spending, eroding savings, and drawing policy attention, with implications for employers and advisers.
retirement
Settlement clarifies interplay between disclosure and suitability in annuity advice
A settlement facilitated by the FAIS Ombud highlights that full disclosure of product terms does not, on its own, satisfy suitability obligations under the Code of Conduct.
Employers urged to nudge workers to track their retirement progress
Many employees know how much they are contributing but not whether it will deliver a sustainable income.
Ombud case highlights risk of mismatched annuity advice and implementation
Consumers must understand product terms and ensure documentation accurately reflects agreed guarantees and beneficiaries.
Australia’s playbook: what SA can learn to fix its retirement crisis
Old Mutual’s Michelle Acton tells IRFA delegates that Australia’s superannuation system provides a roadmap for boosting coverage and retirement outcomes.
Flexible income now, guaranteed income later: Discovery’s answer to longevity risk
Discovery Invest’s new retirement offering combines a living annuity’s market exposure and income flexibility with a lifetime guarantee that kicks in from age 80.
Pay and pension gaps leave women financially vulnerable in retirement
Discovery’s analysis shows that women retire with 21% fewer assets than men – driven by a 24% pay gap, unequal caregiving burdens, and conservative fund choices.
South Africans’ ‘retirement plans’ driven by unrealistic assumptions
FNB survey also finds that most under-60s expect to work beyond their retirement age, with only 10% planning a full stop.
How your living annuity start date can cost (or save) you tax
Aligning your retirement date with the tax year can smooth income withdrawals and avoid unintended bracket creep.
Navigating the retirement age maze: a practical guide for employers
Synchronising employment agreements with the rules of occupational retirement funds promotes legal certainty, secures employee benefits, and smooths succession planning.
Two-pot retirement system: a new playground for cybercriminals as FraudGPT fuels the threat
: Retirees, should be especially vigilant against three common scams: phishing and its more targeted version, spearfishing; deepfakes; and the Grandparent scam, which uses voice cloning.
Budget 2024: Advice is critical to helping consumers navigate financial pressures
Financial advisers can guide their clients on how to manage the knock-on effect of rising costs without compromising their long-term financial wellness.
Guaranteed annuity is the better option for most retirees, says Actuarial Society
Pensioners are sacrificing the certainty of a lifetime guaranteed income in the hope that some capital will remain for a loved one when they die.
Two-pot retirement system: who will be the winners and the losers?
Sanlam’s modelling looks at the impact of the system’s conflicting aims: higher preservation rates and access to savings.
Benchmark Survey: 1 in 5 South Africans doubt they will be able to retire
Report also flags the decline in employers making it compulsory for employees to join a medical scheme.
Unpacking the changes to the retirement fund lump-sum tax tables
It’s important to understand the access you have to your retirement fund savings, as well as the calculations used, to avoid an unexpected tax bill.
South Africans aren’t receiving proper financial advice when they need it most
Survey finds most wish they had treated money as a growth asset when they were younger.
