FSCA to launch retirement fund education campaign
The FSCA encourages members of retirement funds to check whether their employer is in arrears with their contributions.
#twopotretirementsystem
Two pots: Alexforbes predicts R50bn asset outflow in the first year
The impact on capital markets should be minimal considering that most funds hold considerably more than 1% in cash, says Dawie de Villiers.
No savings pot withdrawal in September if your balance is less than R2 000
The Actuarial Society of South Africa urges retirement fund members to check their benefit statement to see whether they will qualify for a withdrawal.
Final countdown for administrators and employers to prepare for the two-pot system
Discovery Corporate and Employee Benefits provides a checkist of what employers should be doing before 1 September.
Members can expect payment delays when making withdrawals from the savings pot
The allocations to the savings component can happen only from 1 September onwards, says Old Mutual.
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.
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Every R1 withdrawn prematurely from retirement savings could incur a future loss of up to R30 at retirement.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.
