Is the FSCA preparing for auto-enrolment to expand retirement coverage?
After years of stalled progress, the FSCA’s recent comments suggest National Treasury may renew its push for auto-enrolment.
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How the COFI Bill will affect the retirement industry
The ‘imminent’ COFI Bill will introduce the licensing of retirement funds (including public sector funds), stricter board member standards, and enhanced oversight of contributing employers.
When retirement dreams clash with reality: the case for early benefit counselling
Earlier counselling can help members to make more sustainable financial choices, allowing them to embrace retirement with less stress and greater financial integrity.
Retirement savings not immune to SARS tax collection orders, court rules
SARS can appoint third parties to deduct tax debts directly from retirement funds, overriding the protections under the Pension Funds Act.
FSCA announces proposed levy increase for 2025/26
The increase is below the 6% CPI-related increase permitted by the Levies Act.
Old Mutual pays out R2.3bn in over 200 000 two-pot withdrawal claims
Financial advisers warn that even small withdrawals can significantly erode retirement income over time.
Treasury accepts most of the industry’s two-pot proposed amendments
Among other things, the revised Amendment Bill will clarify how funds should calculate seeding when provident fund members choose to join the system.
Building South Africa’s future: can infrastructure investment overcome regulatory hurdles?
Mika Adsetts, global chief investment officer of Momentum Multi-management, says that while PPPs are crucial for advancing infrastructure goals, an array of investments is key to scaling these projects.
Alarm bells ring as Sanlam reports high withdrawal claims among vulnerable members
In September, Sanlam received more than 83 000 withdrawal claims, with most coming from members aged 35 to 44, many of whom had a replacement ratio below 50%.
Two-pot withdrawals: taxpayers who understate their income face penalties
SARS has processed more than 1.2 million tax directives for savings component withdrawals, paying out R21.4 billion to fund members.
Tribunal criticises FSCA for missteps in oversight of retirement fund
The FST orders the FSCA to reconsider key decisions regarding the Municipal Employees Pension Fund, saying the regulator overstepped its authority.
FSCA to act against trustees who haven’t completed Training Toolkit
The Authority has issued a request for up-to-date information on trustees so it can check whether they are compliant.
Adjudicator to propose holding trustees personally accountable for non-payment of contributions
Muvhango Lukhaimane will also consult with trustees on guidelines for naming and shaming problematic funds, administrators, and employers.
Retirement funds are the new ‘must-have’ – thanks to the two-pot system
The system is driving a shift in how members engage with their retirement funds. Members are monitoring their savings and reacting to market fluctuations, says Old Mutual.
ASISA flags ‘problematic’ amendments to two-pot legislation
Funds made different calls on the conditions for the exclusion of provident preservation fund members and the seeding date for members who opt in.
Lukhaimane urges caution as litigation over beneficiary tracing continues
The SA Retirement Annuity Fund is looking to the Supreme Court of Appeal to overturn a High Court decision in favour of the Pension Funds Adjudicator.
Why Discovery’s fund members are making two-pot withdrawals
Despite relatively low overall withdrawal rates, 24% of claimants are using their retirement savings for home or car repairs and 21% for settling short-term debt.
