Life for South African consumers is far from back to normal, as a number of surveys attest. For the average consumer, income levels are down, savings are down, and debt levels have risen.
The following legal updates were publish by The Sanlam Corporate Legal department for your attention.
Withholding a member’s retirement fund benefit or making a deduction from such a benefit should be referred to the Board for careful consideration and a decision.
Sanlam Corporate’s implementation of the legislation for POPIA.
Kanyisa Mkhize, Chief Executive Officer at Sanlam Corporate, says the pandemic has been a setback for South African retirement fund members and retirees.
Retirement fund members opted to suspend contributions for an average of four-and-a-half months in 2020.