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.
#retirementplanning
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.
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.
Why fund members are hesitant to adopt trustee-endorsed annuities
Financial planner Lara Warburton says clients believe trustee-endorsed annuities don’t offer enough flexibility or returns to sustain them through long retirement periods.
Tribunal upholds financial planner’s actions in annuity rate dispute
The planner acted in the client’s best interest, highlighting the importance of clear communication and thorough record-keeping in financial advice.
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%.
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.
Opportunity for young professionals to start their financial journey in the right way
Various financial practices will provide essential insights and guidance to young professionals at an event in Cape Town.
Advisers should not underestimate the implications of the two-pot system for financial planning
Financial advisers should understand the broader implications on tax planning, retirement savings, and investment strategies to guide their clients effectively.
Momentum reports R1.7bn in two-pot withdrawal applications
More than 60% of two-pot withdrawal applicants have come from low-income groups, according to Momentum’s latest figures.
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.
‘Two-pot system will produce better outcomes for those who avoid the risks’
The type of fund to which a member belongs may improve or undermine the preservation of retirement fund assets, says Allan Gray.
Considering annuity options if inflation surges during retirement
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.
How the process to make withdrawals from the savings ‘pot’ will work
Retirement fund members must ensure their fund has their correct details and they are registered as a taxpayer with SARS.
FSCA alerts funds of consequences if two-pot rule amendments aren’t submitted by 31 July
Funds that cannot pay withdrawals because their rules are invalid must inform members why they may not be allowed to access their benefits.
10 things people often get wrong about the two-pot retirement system
Old Mutual’s learnings about what people know or expect, based on its interactions with customers and advisers.
Pre-retirement savings withdrawals ‘make sense in certain cases’
Preservation must be encouraged, but the reality is that a retirement fund is many South Africans’ only source of savings, says Alexforbes.
