At the beginning of May 2018, the Retirement Fund Web will be replaced by a new enhanced online portal and mobile app for members. All members will automatically be routed to the new online member portal (unless specific arrangements have been made to the contrary). This is a seamless process with no need for members (that are already registered) to re-register.
As you may be aware, the Minister of Finance announced a value-added tax (VAT) rate increase in his budget speech on 21 February 2018. The standard rate of VAT will change from 14% to 15% with effect from 1 April 2018 (the Effective Date). This means that from the Effective Date, all taxable goods or services supplied by Sanlam, are subject to the VAT rate of 15%.
Finance Minister Malusi Gigaba’s maiden budget speech was keenly anticipated by South Africans wanting clarity on how he proposes to plug the gaping budget deficit. In his own words “This is a tough, but hopeful budget”.