Sanlam reports that most withdrawals came from financially strained members in mid-life, with little evidence that funds were used to reduce debt. Instead, spending patterns suggest pressure to cover everyday expenses.
Danie van Zyl of Sanlam Corporate Investments warns that allowing access to retirement components in retrenchment cases might jeopardise long-term savings and place added pressure on trustees.
Sales of recurring-premium savings policies continued to improve, while lapses of risk policies declined.
Watch Moonstone Update for an overview of some of the stories covered in the past week’s Investment Indicators and Moonstone Monitor. This weeks update focuses on the budget Income tax brackets, medical tax […]
The Bureau of Market Research discloses what South Africans have done with their savings benefit withdrawals since September 2024.
A DebtBusters study provides interesting insights into how South Africans in different income bands prioritise their spending outside of debt repayments.
Despite record-breaking global temperatures and escalating climate risks, most South African retirement funds lack climate policies – raising concerns about the long-term sustainability of their investments.
It says 47% of members intend to make future claims – with 34% of those who have already claimed planning to do so again.
Carla Rossouw, head of tax at Allan Gray, discusses what investors need to know about retirement fund products and the looming end-of-tax year deadline on 28 February.
Employer interventions, including automatic contribution increases and making finance advice more accessible, are required to bridge the retirement age gap.
The Bill provides for flexibility when provident and provident preservation funds perform the seeding calculation.
Survey finds that 57% are comfortable with having access to their savings, while 29% are concerned about the impact on their long-term savings.
The company says 32% of its membership base have submitted claims with a value of about R6.5 billion.
Old Mutual’s Andrew Davison highlights why the two-pot system could lead to better retirement outcomes – and what trustees and advisers need to consider to make it happen.
58% of South Africa’s municipalities – 149 out of 257 – are behind on their retirement fund contributions, highlighting a growing issue in local government finances.
FSCA plans to issue guidance on what it considers to be a fair and transparent approach to transaction fees.
With over R5.2 billion in unpaid retirement fund contributions and municipalities among the worst offenders, the FSCA is poised to gain expanded powers under the COFI Bill.
