"Many workers in our sector are not aware that they have money owed to them. Provident fund benefits, arrear wage payment, and even death or ill-health benefits often go unclaimed simply because members are uniformed, changed contact details,…
As an, Executive Head of Brand Marketing at Momentum Qhawekazi Mdikane, thought organising her mother’s estate would be a cinch… how wrong she was.
"Digital access is n lot just about convenience; it is about strengthening the integrity of the system. When member information is accurate and systems are aligned, withdrawals are faster, more secure, and traceable. But it also places responsibility…
"Rather than reserving these funds for genuine emergencies, we are seeing withdrawals being used for discretionary spending such as Black Friday purchases, holidays, upgrading cars and electronics. In some instances, this is even premeditated,…
"The two-pot system's forced preservation has ensured that members are preserving their retirement benefits. We have seen this with a significant increase in our in-fund members who are choosing to retain their retirement pots in the Sanlam…
"When you're pulled in many directions at once, another withdrawal can feel like the quickest solution, but good financial advice helps you step back, weigh the trade-offs and avoid undoing years of disciplined retirement planning," says Lizl…
"For most of the past century, retirement was designed for shorter lives. People worked until their early sixties and spent a decade or two living off savings and pensions. That formula is breaking down. Many will now spend as long in retirement…
"Customers often believe that belonging to a medical aid and having disability cover is enough, while many young people assume their age and good health will shield them from serious illness. But when a major health crisis strikes, it's often…
"By combining our banking expertise with Reunyte 's smart matching technology, we're able to connect with customers in a way that's both relevant and impactful. Often, beneficiaries of these various unclaimed benefits aren't aware of them,"…
"Investing strategically in comprehensive retirement benefit counselling is therefore no longer a “nice to have” but rather a critical business strategy for talent attraction, retention, and enhanced productivity," says Sipho Sibanda, Head:…
“Without urgent action, we are building the next generation of old-age poverty - and that affects everyone: families, communities, and the broader economy. It also reduces the potential for families to build and sustain wealth over generations,”…
"When marriages end, dividing assets can be complex – especially retirement savings. The introduction of the two-pot retirement system in September 2024 has significantly changed the rights of divorcing fund members and their spouses," says…
“While many members likely know how much they are contributing monthly towards their retirement investment, they are in the dark about the rest of the detail – and are therefore not able to assess whether or not they have accumulated adequate…
"Yes, the challenges are significant – low savings, inequality, affordability, delayed retirement. But we also have powerful tools at our disposal: thoughtful investment strategy, evolving systems, and better financial education. If we use them…
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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