Stricter rules for the sector will hit smaller funds harder
National Treasury has instructed the FSB to reduce the more than 1 650 active retirement funds to less than 200.
Pensions – Some progress
Members of provident funds can take their pension in a lump sum for now, though government and business would like to see pension and provident funds rules aligned so that everyone would have to buy a regular annuity.
Campaign to encourage member registration for online portal and mobile app
In recent years we have seen many digital transformations of other industries and specifically the financial services sector with online banking becoming the norm. This has resulted in members of retirement funds now...
End of the road for company pension funds?
The default pension fund regulations could persuade many employer-sponsored funds to move their employees to an umbrella fund.
Budget Speech 2018
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”.
Updated version of the Fund in Detail
We release the March 2018 version of The Fund in Detail for the attention of consultants and participating employers. All the changes and new information have been summarised for your convenience. The Fund in Detail...