Adjudicator says levy increase will support operational independence
The Pension Funds Adjudicator is looking to implement a 4.7% increase in its levy, raising the cost to retirement funds by 49c per eligible member.
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R4.1 billion in withdrawals: surge in two-pot claims highlights financial planning challenges
The introduction of the two-pot retirement system has triggered a wave of withdrawal applications, prompting concerns over tax liabilities and the need for improved financial education.
Court orders employer to disclose bank records in battle over contributions
The Mafube Local Municipality is accused of withholding nearly R38 million in employee retirement fund contributions.
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.
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.
MBSE’s top achievers balance work and study in financial planning
Emily Broodryk, Rion Malan, and Francois Mostert share why they found it rewarding to study for the Higher Certificate in Wealth Management at MBSE.
Final legacy RA exemption conditions published
Commentators did not raise any significant concerns in their responses to the draft conditions, the FSCA says.
SARS alerts fund members to the requirements for two-pot withdrawals
A request for a tax directive will be declined if a member is not a registered taxpayer or has outstanding returns.
Adjudicator urges funds and members to communicate to avoid two-pot complaints
Members should find out whether they will be eligible to withdraw money from their savings components.
FSCA publishes ‘two pots’ guidance for defined-benefit funds
If a fund cannot follow the standard allocation methods, it must apply for FSCA approval to use an alternative, reasonable method.
Government seems to back away from prescribed assets
The FSCA says prescribed assets will compromise the fiduciary duty of retirement fund trustees.
When does the countdown for tracing a fund member’s dependants start?
High Court hands down a decision on the interpretation of the tracing provision in section 37C of the Pension Funds Act.
Why retirement fund trustees should pay attention to the newly signed Companies Amendment Bills
The Companies Amendment Bills impose crucial changes to remuneration disclosure and shareholder approval that trustees must integrate into their governance practices.
Two pots: how withdrawals from DB funds will differ
Actuarial calculations may affect the costs and time for defined-benefit fund withdrawals, depending on the rules of the fund and the complexity involved.
Proposed Regulation 28 amendment – are prescribed assets coming back?
The Cabinet is considering introducing new asset classes to leverage retirement savings for industrial financing.
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.
Two pots: Alexforbes predicts R50bn asset outflow in the first year
The impact on capital markets should be minimal considering that most funds hold considerably more than 1% in cash, says Dawie de Villiers.
