GEPF receives R10.6bn in two-pot withdrawal applications
More than 361 000 members of the GEPF have accessed their savings under the two-pot system, averaging R27 500 per claim.
#retirementsavings
Is the two-pot retirement system safe from rising cyber threats?
Biometric expert Murray Collyer explains how the latest technological advancements can prevent fraud and protect your retirement savings in a rapidly evolving digital world.
Average living annuity drawdown rate lowest in five years
The marginal decrease in the average drawdown rate is noteworthy because it occurred in an environment of rising living costs, says ASISA.
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.
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.
FSCA fines and debars retirement fund administrator’s directors
Fund members lost at least R470m after N-e-FG’s high-risk investments went south in 2021. Now, two of its directors have been fined R30m each.
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.
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.
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.
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.
Two-pot system is about compulsory preservation
South Africa has the potential to boost its savings rate and secure a more stable source of funding for fixed investments, essential for driving economic growth.
Increase in fund members planning to make a two-pot withdrawal
The Sanlam Benchmark Survey also shows that more respondents are turning to online sources for product information instead of using a personal adviser.
Move over Black Friday – ‘Tax Thursday’ offers investors the best deal for retirement savings
Investors can maximise their tax benefits by contributing extra funds to their retirement annuities before the tax year ends.
