Latest News & Developments
pension
Understanding the exemption of legacy policies in the new pension system
What you need to know
Ex municipality CFO arrested for R6 million pension fund fraud
The Hawks in the Northern Cape arrested a 38 year old former CFO and two cashiers from Phokwane Local Municipality for their involvement in a multi-million-rand fraud scheme, which resulted in significant financial losses.
State-owned Golden Leopard Resorts under fire for unpaid employee benefits
Golden Leopard Resorts in the North West's Pilanesberg National Park faces serious allegations of failing to pay employee benefit deductions since 2022. The Public Servants Association demands immediate action as pension funds, insurance policies, and union subscriptions remain unpaid, affecting workers' financial security.
Man unhappy after Old Mutual paid grandmother 90% of his portion from late mother's pension fund
The man was a minor when his mother passed on in 2008. He was due to receive 90% from the death benefit and his grandmother had to receive 10%.
Alexforbes sees surge in savings pot withdrawal claims as new tax year starts
As the new tax year begins, Alexforbes reports a significant rise in retirement fund withdrawal claims, highlighting the financial pressures faced by many South Africans
Conflicting union responses over potential pension contribution pause at GEPF
South African labour unions are deeply divided over a government proposal to temporarily suspend employer contributions to the Government Employees Pension Fund (GEPF). While Cosatu supports the plan to address a R60 billion budget shortfall, other unions warn of long-term consequences for public servants' retirement security
'The money doesn't sustain us': A month in the life of a social grant recipient in South Africa
Explore the struggles of South Africans relying on social grants, as a family of twelve shares their challenges in making ends meet amidst rising living costs.
KZN man who allegedly robbed granny of SASSA grant during first date to remain in jail
A 54-year-old man from Chatsworth arrested for allegedly robbing a 64-year-old grandmother of her SASSA grant money during a first date will remain in jail, pending a bail application.
USAID pours third of global aid into Ukraine as agency faces uncertain future
As USAID faces potential shutdown under Trump and Musk's influence, Ukraine's lifeline of billions in aid hangs in the balance.
Over two million taxpayers withdraw from savings pot, says Sars
Sars reveals that over two million taxpayers have accessed their savings pot, with R 43. 42 billion paid out to date.
Man in financial hardship denied access to his R7. 3 million Absa pension fund
The man found himself in financial difficulties and approached the bank to withdraw R650,000 from his life annuity, unfortunately, the request was denied.
Sperm donors don’t have fathers’ rights – adjudicator
Being a sperm donor does not make you a father, and being a biological parent does not confer absolute rights, according to a ruling by the Pension Funds Adjudicator.
Loaves of love as company delivers bread for Braamfischerville community
The streets of Braamfischerville came alive with singing and loud cheers at the sound of a megaphone from the Blue Ribbon team calling everyone to come and get free loaves of bread.
Pension Funds Adjudicator can help with unpaid pension contributions
According to the authority, about R7 billion in contributions remain unpaid.
Pension Plain: Two-pot system: Savings pots are airbags, not spare wheels
The saving pot was not created as a solution to solve your short-term cash flow problems or to save you from the self-inflicted wounds caused by high interest credit purchases.
Pension-backed loans can offer a unique pathway to home ownership
Pension-Backed Lending may be a unique pathway for people and families looking to make their dream of owning a home a reality.
Pensioners in SA are using smart technology to reduce their electricity bills
Being a pensioner in South Africa is hard.
Geopolitics has a sister called geoeconomics
Geopolitics intermingle with economic tools to advance geopolitical agendas, of which there are an ever-increasing number.
Pension Plain: Two-pot system: do not eat from your Savings Pot
It is easy not to consider what the true cost of these annual withdrawals from your Savings Pot will be over the lifespan of your career.
Where are we with the two-pot system?
The implementation date is a matter of consternation for the retirement fund industry, because the new system demands considerable administrative changes.
Godongwana proposes that two-pot retirement system date be changed
Godongwana raised concerns about the March 1, 2024 implementation date.
The living annuity model proves robust in volatile times, says Asisa
Asisa said the number of living annuity policies grew by 13. 5% over the same period, to 527 038 at the end of 2022.
Financial Services Tribunal upholds PFA ruling on fund transfers
This comes after a complainant alleged that the MEPF allocated 23 years and two months of services to him while it should have been 41 years and two months.
The five phases of retirement – a review
Retirement is a significant milestone that requires careful planning and preparation, preferably throughout your working years.
Words on Wealth: The mind-boggling task of choosing an annuity
The choice to make to retirement savings remains yours to make.