"Difficult market conditions have triggered a healthy debate about the most appropriate application of living annuities in retirement plans. The discussion has shifted from a rather one-dimensional “living annuity versus guaranteed annuity”…
"One of the complexities of the two-pot system is how it will be implemented for defined benefit funds (DB funds) the largest of which is the Government Employees Pension Fund (GEPF) which has more than 1,2 million members," says Joon Chong,…
“Managing unclaimed benefits can be complex, particularly when the primary policyholder has passed away, and beneficiaries are unaware of their entitlements. Hence, it is important for policyholders to prioritise updating their personal details…
"A review of the living annuity statistics from 2018 to 2022, which covers a particularly tumultuous four years for the global economy due to the Covid-19 pandemic, confirms the robustness of the living annuity model as the average drawdown…
“We’ve discovered that the rising absenteeism trend among employees is due to mental health issues like stress, depression, and anxiety. Our service aims to address these hardships head-on by complementing existing Employee Assistance Programmes…
“In 2022, we confirmed that we would be ready for the Two Pot Retirement System on the condition that the relevant legislation was finalised expeditiously. As we approach the end of 2023, the legislation remains unfinalized, hindering our ability…
“Maternity leave and female retirement preparedness are interconnected aspects that significantly affect women's financial security and overall well-being. The savings structure, while comprehensive, has inadvertently placed women, especially…
"Immediate financial relief is crucial, but it should not come at the expense of one's retirement nest egg. We advise all South Africans to consult with experienced financial advisers before making any decisions related to their retirement savings,…
"The two-pot retirement system represents a fundamental change to the existing retirement savings structure. The new two-pot system intends to allow members of retirement schemes the flexibility to access one-third of their savings before retirement…
"The retirement journey is highly personal and complex, with challenges for everyone, and my suggestion for X-ers is to pause and take stock. Speak to a trusted financial adviser to get a holistic view of your situation, and then create a roadmap…
“Your protection and investment decisions should reflect where you are in life, so that all eventualities are covered, including updating your insurance, retirement, and healthcare policies annually and after major life events, such as having…
"As the clock ticks closer to the effective date, financial advisers find themselves on the cusp of a transformative era in retirement planning – the advent of the Two-Pot Retirement System, and steering through this new landscape will demand…
"A retirement fund may deduct from a member’s retirement benefit any amount which the employee (member) owes to their employer on the date that they retire or that membership of that retirement fund terminates," writes Kenneth Coster, Partner,…
"Your benefit statement may reference both your retirement and risk benefits. Understanding what some of the key terms on your statement means, can help you pay closer attention to areas of special interest," says Robyn Laubscher, Advice and…
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