On 1 September 2024, the retirement system in South Africa will change considerably. The new regime is known as the two-pot retirement system. Going forward, members of retirement funds will be able to access a portion of their retirement savings while still...
Many retirement funds, including commercial umbrella funds, maintain a life-cycle investment strategy. Trustees carefully consider the investment strategy, with input from experts in the field. These experts design sophisticated investment strategies, often...
In terms of section 37D(1)(b)(ii), a retirement fund is entitled to deduct an amount from a member’s retirement fund benefit for any damage caused to the employer as a result of theft, fraud, dishonesty or misconduct. In the Moodley[1] case, the meaning of...
Riaan Botha, Head of Benefit Consulting and Actuary, Simeka Consultants and ActuariesThe proposal from Treasury to postpone the implementation of the two-pot retirement system to March 2025 was noted with a sigh of relief from the retirement industry, and...
Anita Roodman, Senior Manager: Legal and Technical services, Simeka Consultants and Actuaries In the digital age where demand for capabilities such as online access for members and participating employers plays an integral role in managing financial transactions...
Marcus Rautenbach, Principal Investment Consultant, Simeka Consultants and Actuaries Following the National Budget presented by the Minister of Finance to Parliament on 22 February 2023, consensus opinion was that it is a fair budget but that its success...