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Treasury further tightens the noose on retirement assets of emigrants

The Budget Review 2021 includes a proposal to impose a deemed retirement withdrawal tax on retirement assets of emigrants as an exit tax. The proposal is unclear and has numerous issues. Data from various sources suggests that around 23 000 South African (SA) tax residents emigrate each year ...
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How the T-Day retirement reforms could affect you

A number of retirement fund rule reforms will come into effect on 1 March 2021, also known as T-Day. These new rules will not only standardise the way in which benefits can be accessed across different funds at retirement but will also facilitate the phasing out of emigration for purposes of exchange ...
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ADJUDICATOR SLAMS PRIVATE SECURITY SECTOR PROVIDENT FUND FOR NOT TAKING ACTION AGAINST DEFAULTING EMPLOYERS

Regulatory compliance in the private security industry remains a sore point as more complaints land on the desk of the Pensions Funds Adjudicator. The majority of the complaints prevalent in this sector relate to non-compliance with Section 13A of the Pension Funds Act whereby employers fail ...
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ADJUDICATOR RULES EMPLOYER IS ENTITLED TO PENSION DEDUCTION AFTER DOUBLE SALARY PAYMENTS

The Deputy Pension Funds Adjudicator, Advocate Matome Thulare, has ruled that an employer was entitled to claim a deduction for double salary payments made to the complainant for over two years. Advocate Thulare dismissed the complaint by a member against his pension fund’s decision ...
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Introducing our new eNews App

Insurance Gateway is thrilled to introduce our brand new electronic newspaper. The final product is available as both a mobile and desktop application. Our aim with the app was to develop an electronic newspaper that would dynamically reflect and complement our more extensive Insurance Gateway website ...
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Life » Insurer Liberty adapts its education benefits to the realities of the pandemic Rule 19 – how it affects advisers and the industry, and are there tools to support advisers in complying? 1Life recognised as the top direct life insurer for the 10th year running Insurance Ombudsman determines non-advice policy is void 1Life stats confirm the importance of healthy living amidst a possible second wave

Short-term » To insure or self-insure? A conundrum for fleet operators Thierry Portevin to lead global risk consulting unit at Allianz Global Corporate & Specialty Park any doubts: Insurance cover tips for second-hand cars PERSONAL BELONGINGS MUST BE KEPT CLOSE TO THE INSURED Three insurance-friendly tips for your date this weekend

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