There is a legal grey area over the calculation of pension interest in divorce settlements and whether funds may now be permitted to make deductions for future maintenance orders.
After years of stalled progress, the FSCA’s recent comments suggest National Treasury may renew its push for auto-enrolment.
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.
Earlier counselling can help members to make more sustainable financial choices, allowing them to embrace retirement with less stress and greater financial integrity.
Financial advisers warn that even small withdrawals can significantly erode retirement income over time.
Financial planner Lara Warburton says clients believe trustee-endorsed annuities don’t offer enough flexibility or returns to sustain them through long retirement periods.
The planner acted in the client’s best interest, highlighting the importance of clear communication and thorough record-keeping in financial advice.
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%.
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.
Various financial practices will provide essential insights and guidance to young professionals at an event in Cape Town.
Financial advisers should understand the broader implications on tax planning, retirement savings, and investment strategies to guide their clients effectively.
More than 60% of two-pot withdrawal applicants have come from low-income groups, according to Momentum’s latest figures.
Emily Broodryk, Rion Malan, and Francois Mostert share why they found it rewarding to study for the Higher Certificate in Wealth Management at MBSE.
The type of fund to which a member belongs may improve or undermine the preservation of retirement fund assets, says Allan Gray.
Coronation looks at whether a life or a living annuity is more likely to protect a retiree’s income if we enter a high-inflation environment.
Retirement fund members must ensure their fund has their correct details and they are registered as a taxpayer with SARS.
Funds that cannot pay withdrawals because their rules are invalid must inform members why they may not be allowed to access their benefits.
