Financial pressure shapes South Africans’ views on two-pot options
Survey finds that 57% are comfortable with having access to their savings, while 29% are concerned about the impact on their long-term savings.
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‘Enhanced member engagement’ yields higher inflows for Alexforbes
Profit from operations increased by 13% despite higher operating expenses attributed in part to implementing the two-pot system.
Two pots: most Alexforbes members who have claimed will do so again
The company says 32% of its membership base have submitted claims with a value of about R6.5 billion.
Enforcement is the Achilles’ heel in contribution compliance, says Adjudicator
The FSCA, National Treasury, and the Pension Funds Adjudicator tell MPs what they are doing to address the non-payment of retirement fund contributions. Regulatory interventions other than COFI may be in the offing.
R300m a year: the price tag of administering the two-pot system
The FSCA is evaluating whether administration fees are reasonable. If it believes they are not, it will explore whether it is necessary to cap or regulate fees.
Video Interview: Should the two-pot system result in new investment strategies?
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.
Arrears in local government sector reach alarming levels
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.
Data reveals trends in members’ two-pot withdrawals
FSCA plans to issue guidance on what it considers to be a fair and transparent approach to transaction fees.
Unpaid contributions: FSCA prepares to hold non-compliant employers accountable
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.
R35bn withdrawn as SARS reports unprecedented two-pot system activity
Some 20% of applications for tax directives were rejected.
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.
Old Mutual reports double-digit growth in gross flows
The group’s latest trading update discloses a 19% surge in gross flows and a rebound in net client cash flows.
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.
Pension Funds Act amendments spark uncertainty over divorce and maintenance deductions
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.
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.
SARS will tighten the compliance screws to hit R1.84 trillion tax target
The MTBPS shows tax revenue will be below the Budget estimates, but SARS is adamant it will do everything in its power to collect as much money as it can.
