FSCA proposes amending the conditions for section 14 transfers
The draft amendments address the misalignment between the current prescribed section 14 application forms and the upcoming two-pot regulations.
#twopotretirementsystem
Two pots: resist the urge to access your RA savings unnecessarily
Every R1 withdrawn prematurely from retirement savings could incur a future loss of up to R30 at retirement.
ASISA says its members are working flat out to be ready for ‘two pots’
DA MP takes Old Mutual to task for comments suggesting the 1 September implementation date ‘may slip’.
Arrear contributions: publishing employers’ names ‘is having an impact’
Deputy commissioner sets out the FSCA’s priorities for the supervision and regulation of the retirement industry.
Treasury addresses industry’s main concerns about Pension Funds Amendment Bill
An application clause will provide for the Pension Funds Act to prevail over the Divorce Act where the Acts’ provisions conflict.
Industry red-flags contradictions between Divorce Act and pension law amendments
The Association for Savings and Investment SA and the Institute of Retirement Funds Africa also call for amendments not related to the two-pot system to be held over.
Two pots: administrators encouraged to submit draft rule amendments
The FSCA expects to receive a large number of amendments, so it would like to have prior sight of the proposed amendments beforehand.
New tax reforms edge closer: public comment open on four draft Bills
The Draft Global Minimum Tax Bill aims to enforce a 15% multinational top-up tax on multinational enterprise groups, aligning with global efforts to implement a comprehensive system of minimum taxation.
Budget 2024: Advice is critical to helping consumers navigate financial pressures
Financial advisers can guide their clients on how to manage the knock-on effect of rising costs without compromising their long-term financial wellness.
Budget brings very little cheer for the average consumer
Financial experts from Momentum weigh in on how the Budget may impact consumers and taxpayers.
Treasury anticipates tax windfall from two-pot retirement system
Many fund members are likely to withdraw the seed capital from their savings component.
Fiscal risks to SA remain despite government’s debt-containment measures
National Treasury continues to toe the line between fiscal continuity, consolidation, and declining revenues amid an increasingly stagnant local economy.
Godongwana’s financial juggling is no substitute for economic growth
Whether the objectives as set out in the Budget are achievable will be determined by the government’s political will to anchor expenditure and put resources to better use.
Two-pot legislation speed bump – the Amendment Bill must be amended to include public sector funds
The Pension Bill will prohibit members from making a withdrawal from the savings component if the withdrawal results in insufficient funds remaining to settle a court order.
Minister of Finance publishes Pension Funds Amendment Bill
The amendments are necessary for private sector retirement funds to give effect to the two-pot retirement system.
