It actually is complicated One of the unintended consequences of all the new two-pot legislative rules is that members' options when they withdraw from a pension or provident fund following their exit from employment have become fairly complicated. The...
What comes next after the two-pot system? Auto-enrolment is the next logical step towards retirement reform in South Africa, says Michelle Acton, Chief Customer Officer at Old Mutual Corporate. The two-pot system marks a transformative step, potentially...
A useful way to illustrate how boards use artificial intelligence is through a Star Trek analogy: Before AI Picture the scene: The Bridge of the USS Enterprise (Captain Kirk sits confidently in his command chair, glancing around the bridge crew. He leans...
Most retirement funds in South Africa provide their members with lump sum death and disability benefits, in addition to the retirement savings. These benefits can be in the form of an income or a lump sum amount. These additional benefits are normally called...
In the complex world of finance and risk management, actuaries have historically been viewed as the quiet guardians of risk, primarily tasked with evaluating and managing financial uncertainties. Traditionally, their expertise was rooted in valuation and...
I am often amazed at the assumptions people make about how the financial needs of their minor children will be cared for in the event of their death. The treatment of financial benefits varies depending on the type of benefit. In this article we touch on two...
The two-pot system is the latest in a series of significant legislative changes which the retirement industry has seen in the last 10 years (see information box for more details). Most of the attention to date has been on the savings pot, that is the amount...
Though many of us may not fully grasp the profound impact of AI on the world, its transformative power is clear. Some of us have used tools like ChatGPT to improve our writing but today I want to focus on a few remarkable AI innovations that change lives in...
Retirement outcomes in South Africa are very poor. National Treasury estimates that 94% of members in employer funds are not on track to achieve desired retirement outcomes. There are several reasons for this, including the macroeconomic challenges facing...
1 September 2024 marks the commencement of the Two Component system. It is one of the most significant reforms to the retirement fund industry in decades and undoubtedly, many working in, and for, this industry are feeling a bit overwhelmed and nervous, given...
