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Employee Benefits

 

Employee Benefits / 22-05-24 / Sisanda Ndlovu

Two-Pot Retirement System: financial advisers urged to highlight risks to over-55s

“Accessing funds early could lead to a significant tax burden, as withdrawals will be taxed at the marginal rate, whereas funds accessed upon retirement receive more favourable tax treatment under the retirement tax tables,” says Keith Peter,…

Employee Benefits / 15-05-24 / Reo Botes

Reo Botes | Building a healthier workforce: affordable healthcare for blue-collar employees

"Blue-collar workers are often more susceptible to workplace injuries, occupational hazards, and physical strain compared to other professions, making health insurance crucial for them. However, traditional medical aid plans are expensive, forcing…

Employee Benefits / 25-04-24 / Sisanda Ndlovu

Financial advisers face information gap as Two-Pot System nears

“With the Two-Pot Retirement System on the horizon, there’s a loud and clear call for ramping up financial literacy and beefing up adviser education. We’re stepping into a whole new era here, and it will take advisers who are not just on their…

Employee Benefits / 24-04-24 / Sisanda Ndlovu

Wendy Khumalo | How SMMEs can assist their employees prepare for the future

"While you may be focused on cash flow, expanding on your goods or service offering, plus getting new customers and keeping the doors open, it can be easy to overlook a key ingredient for the longevity of your business – risk protection for…

Employee Benefits / 24-04-24 / Sisanda Ndlovu

Unpacking the complexity of an employee’s disability claim

“It’s important to understand what the responsibilities of the employer are depending on the type of disability – and this comes down to whether the disability claim is paid as a lump sum disability benefit or an income replacement disability…

Employee Benefits / 24-04-24 / Fareeya Adam

Fareeya Adam | Reimagining retirement planning

“By blending the best of two worlds – the income certainty of a life annuity and the investment flexibility of a living annuity – we are partnering with financial advisers to help clients make better decisions about structuring and implementing…

Employee Benefits / 03-04-24 / Staff Writer

New terrain for Financial Advisers: SA’s two-pot retirement system

"Advisers should only recommend using retirement savings to pay off debt in cases of really no alternatives, severe financial hardship, life-threatening medical emergencies, or during periods of unemployment," says Henri Le Grange, Old Mutual…

Employee Benefits / 27-03-24 / Sanan Pillay

Sanan Pillay | Unlocking your team's retirement funds' potential post Regulation 28

"Recognising the obstacles and issues within the industry is crucial, but equally essential is acknowledging the inherent benefits they hold for investors in the form of volatility and inflation-protected investments that offer attractive returns,"…

Employee Benefits / 06-03-24 / Kwanele Sibanda

New Remchannel study warns of unseen negative consequences of salary flexibility on pension savings

“Whilst the move towards TGP, which consists of both the cash and the cost of all benefits, potentially means a higher amount is referenced for retirement savings, our findings also indicate that more employers offer flexibility with regards…

Employee Benefits / 28-02-24 / Joon Chong & Nicolette van Vuuren

First of September 2024 confirmed implementation date of the two-pot system

"While these proposed changes are a step in the right direction to give effect to the two-pot system, the lead time provided still falls short of that which industry stakeholders advocate for to overcome the practical challenges associated with…

Employee Benefits / 28-02-24 / Deon Visagie & Jamie Jacobs

Beyond 60: Landmark judgment upholds right to work, challenges retirement norms

"Employers are thus encouraged to ensure that they evaluate whether re-employing retired employees or those who are approaching or have reached retirement age constitutes waiving of the employers' rights associated with employees reaching retirement…

Employee Benefits / 21-02-24 / Mariska Redelinghuys

Mariska Redelinghuys | Different breeds for different needs

"Deciding on an appropriate tax-efficient investment, such as a retirement annuity (RA) or a tax-free savings account (TFSA) depends on your circumstances. But you don’t have to choose one or the other, both an RA and a TFSA can be included…

Employee Benefits / 14-02-24 / Tommy Jackson

Compensation for Occupational Injuries and Diseases: Half of SA businesses non-compliant

“Given that half of local businesses are currently non-compliant, urgent action needs to be taken. Business owners need to pay more attention to this statutory benefit, which is essential to protecting the health and wellbeing of their workforce,”…

Employee Benefits / 08-02-24 / Henri le Grange

Henri le Grange | Five essential discussions every financial adviser should have in 2024

"As we navigate through shifting market trends, technological changes, and the introduction of the innovative Two-Pot Retirement System currently scheduled for 1 September 2024, it becomes increasingly important for financial advisers to engage…

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