The following proposals and information provided in either the Budget Speech or the Budget Review (published on http://www.treasury.gov.za) are relevant to the employee benefits industry.
One of the main reasons for the extension was that the FSCA is in the process of finalising an Interpretation Ruling relating to section 37C of the Act.
In the year under review the OPFA finalised 10 289 complaints, which is 17% higher than the previous year.
The purpose of s 37C is to provide some protection for dependants, both existing and potential
The insights originate from the 2019 Sanlam Benchmark Research – the group’s annual retirement research, which has been surveying retirement industry stakeholders for 39 years.
Sanlam Employee Benefits's comments on the 2019 Budget Speech.