"South Africa's legislative landscape is marked by conflicts and inconsistencies that can hinder effective governance and the successful implementation of public-private partnerships. Addressing these issues requires a concerted effort to harmonise…
"Regular check-ins after a withdrawal are essential. These conversations allow us to continuously update the financial plan to accommodate life's changes and ensure customers remain on track. By assessing the customer's financial landscape,…
"Living longer should be celebrated, but it also requires us to approach retirement planning differently. This summit is about giving people the tools to make sure the next chapter is their best chapter yet, no matter where they are starting…
"While we know that with freedom comes responsibility, the two-pot retirement system has shown us that with flexibility comes complexity. For new retirement savings plans, the two-pot retirement system should bring a good balance between protecting…
“The Two-pot system is a game-changer, providing access to funds for urgent financial pressures. But we also need to think beyond today. Are we solving today’s problems at the cost of tomorrow’s security? Understanding how this new system works…
"While a notable 17% of claimants selected 'Other' as their motive for withdrawal, the majority of reasons given here was for home improvements and renovations. This isn't really recommended as a good use of Two-Pot savings because it does not…
According to Actuary and damages expert Gregory Whittaker, cybercriminals frequently target retirees because they are likely to have access to capital through retirement savings, and the increasing complexity of financial products, more retirees…
"The two-pot retirement system presents a significant shift in how South Africans can access their retirement savings. While it offers more flexibility, it's also crucial to guide clients to understand the risks and nuances of this new system…
"Up until retirement, about 87% of members rely on trustees to select an investment portfolio for their savings. Three-quarters of funds also have a target income in retirement they work towards, with 60% aligning their default investment option…
A key question when divorcing is the division of retirement benefits between spouses and navigating this aspect of your divorce can be complex. Salome Young, Senior Legal Counsel at Ninety One, shares her insights.
"Seed funding (10% of vested component to a maximum of R30 000) will be accessible from 1 September. Members should be aware of tax implications, including potential changes to marginal tax rates, and the impact on future compound interest and…
With the new two-pot retirement system taking effect in six weeks, members of retirement funds should ensure that they understand the implications of the system, according to Adri Messerschmidt, senior policy advisor at the Association for Savings…
"This year's study validates the ongoing financial and knowledge barriers that South Africans face, which impede effective retirement planning. However, the responses also show a greater awareness of the importance of education in overcoming…
“Preparing and planning for retirement can significantly ease one's later years and prevent loved ones from being financially burdened. By saving more than what might seem necessary now, individuals can create a financial cushion that ensures…
Insurance Biz is a New Africa Busines News Services (NABNS) publication launched in 2013 to focus on the insurance industry, investments, financial planning, employee benefits etc. It remains a great resource of news for industry professionals, and for those who seek to learn about the financial sector developments.
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