Planning Topics
: The Government Employees Pension Fund chairperson Dondo Mogajane launched the GEPF’s Transformation Policy last week, marking a watershed move for economic transformation in South Africa. The policy, unveiled at the GEPF Annual Thought Leadership Conference 2023 in Cape Town, will throw the full…
By Feroza PetersenIN August of 2022, the SA Reserve Bank (SARB) imposed sanctions, including a R20 million fine, on Nedbank in accordance with Section 45 of the Financial Intelligence Centre Act (Fica).The sanctions come in the wake of a compliance inspection conducted from May to June 2019, and…
Professional accountants, whether they act as accountants, advisers and/or trustees of trusts, play important roles in the renewed focus on trusts, including a responsibility to report on non-compliance with laws and regulations that deal with matters such as fraud, corruption and bribery, money…
Investing for an income is what you do, for example, when buying a life annuity with your retirement savings. You aren’t investing for some long-term accumulation goal; you are putting your money in an investment that will hopefully give you a sustainable return from which you can withdraw at…
The latest conflict comes at a time when markets are jittery, and bond yields around the world are trading at multi-year highs. Israeli government bonds fell, with the 2120 ‘hundred year’ bond down 5.3c on the dollar at a record low. The shekel sank to its lowest since early 2015 at 3.9880 per US…
By Brett LadouceWhen you enter into an employment contract with your employer, compulsory membership of a retirement fund in which the employer participates is generally a condition of employment. In some industries, employers are bound by bargaining council agreements to participate in industry…
The amount of food wasted globally is staggering, with South Africa being no exception. While food wastage occurs along the supply chain from farmer to consumer, families could be doing far more to avoid wasting food at home. By doing so, they not only benefit financially through a reduction in…
The Bill seeks to create one government fund that will be able to pay for both private and public health facilities. But will it work?Some members of the healthcare sector have called for the government to address the flaws in the National Health Insurance (NHI) Bill, passed by the National…
2023 has been a challenging and unpredictable year in the FX industry.However, amid this uncertainty, there has remained one constant – BDSwiss. The brokerage has continued to rack up accolades, winning numerous awards and achievements this past month. In doing so, BDSwiss has managed to…
By Feroza PetersenNINE of South Africa’s banks, Standard Bank, Nedbank, Absa, First Rand Bank, Access, Mercantile, SASFIN, Bidvest and Investec, have taken unprecedented steps to exercise their authority to attempt to close the Sekunjalo Group’s bank accounts, and those of the group’s chairman Dr…
Just over a million Rand! That is the prize money that a very lucky lady from KZN won on the Eurojackpot when she placed her winning bet on the Lottoland SA online platform.A few days before that Lottoland SA produced two more winners, one in the German Lotto and the other in the Mega-Sena. So, you…
Woolworths recently announced the launch of a comprehensive pet insurance product, WPetInsure, which became available in mid-August 2023. It included a range of customisable plans designed to “cater to diverse lifestyles and budgets”. The company said in a press release, their cover encompasses…
There is very little which is not taxed in South Africa, from sales to sins, even savings. As a matter of fact, the South African tax system is structured in such a way that it actually punishes investments and income generation. The more wealth you create, the more taxes you have to pay.Incentives…
By Rory Brachner Financial advisers cannot predict how markets and their clients’ investments will perform and should not be expected to, but they can boost your financial position in less obvious ways. Several studies have quantified how much added value a professional adviser brings to a client’s…
Each year, global financial planning professionals come together for World Financial Planning Day to help raise awareness of the value of financial planning and the caveats that come with it. It is imperative that one chooses a financial planner who has committed to a set of standards of…
THE Sekunjalo Group has received full support from a former operator of a now-defunct Johannesburg-based multimillion-rand aircraft company which was allegedly run into the ground by banks through collusion against him.Bret Lang said he suffered the same heavy-handed business and personal approach…
OCTOBER marks the anniversary of another very dark day in the history of South Africa – on October 19, 1977, the then Justice Minister, Jimmy Kruger, outlawed three newspapers and ushered in an era of harassment and intimidation against journalists seeking to tell the truth.While South Africa joins…
Despite a youthful and largely literate demographic, the current narrative is that Africa’s skills don’t match the needs of a rapidly evolving digital and knowledge-based global economy. The global tilt to remote working during the Covid-19 epidemic only exacerbated Africa’s critical skills…
The Financial Sector Conduct Authority (FSCA) recently published its Communication 21 of 2023 – Publication of names of employers with arrears contributions. The communication provided the names of 3262 employers that contravened section 13A of the Pension Funds Act, which prescribes the way the…
The Road Accident Fund (RAF) revenue of R90 billion per annum is not enough to get the RAF back to a solvent status. Drastic steps are required, and the latest amendment bill will go a long way to rectify the shortcomings. The main income received by the RAF is a levy that is based on fuel sales…