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Retirement reform proposals bode well for savings

Old Mutual says proposals to streamline the South African retirement system, which were outlined in a discussion document released by Finance Minister Pravin Gordhan on Tuesday, are encouraging from the perspective of ordinary South Africans.

Affordable medical cover hamstrung by Prescribed Minimum Benefits

While the building blocks of a way forward in healthcare within South Africa are being laid, Prescribed Minimum Benefits (PMBs) remain a major obstacle in the private healthcare sector, preventing medical schemes from keeping healthcare costs down.

Absa welcomes plans to promote retirement savings

Absa, South Africa's largest retail bank by customer numbers, has welcomed the labour department's plans to promote retirement savings among vulnerable workers.

Price hikes to hit already low household savings

Increased living costs have highlighted the need for consumers to spend frugally and ensure they have effective financial planning strategies in place, according to Henry van Deventer, financial planning coach at Acsis.

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INVESTMENT

Price hikes to hit already low household savings

Increased living costs have highlighted the need for consumers to spend frugally and ensure they have effective financial planning strategies in place, according to Henry van Deventer, financial planning coach at Acsis.

More people have credit than those who have jobs

How is it possible that there are more people using credit in South Africa than there are people who have jobs? This is just one of the concerns raised in a report released this week by BNP Paribas Cadiz Securities.

Share of the Week: Aquarius Platinum

Mining companies are starting to feel the effect of section 54 safety stoppages imposed by the Department of Mineral Resources.

TAX

Large corporates and their tax advisers

Looking at press reports over the last couple of months, it would seem that the issue with South African tax practitioners is that they are not saying "NO" often (or loudly) enough according to the Minister of Finance and the SARS Commissioner.

Take care with dividend tax

Companies need to make sure administrative systems are in place

50% rise in VAT refunds may point to capex surge

The 50% year on year (y/y) surge in Value-Added Tax (VAT) refunds to R11.8 billion in February could point to a surge in capital expenditure as VAT vendors can claim a refund for their capital equipment purchases.

RETIREMENT

Retirement reform proposals bode well for savings

Old Mutual says proposals to streamline the South African retirement system, which were outlined in a discussion document released by Finance Minister Pravin Gordhan on Tuesday, are encouraging from the perspective of ordinary South Africans.

About 15% of salary should go to retirement: Acsis

Working consumers should be saving about 15% of their salaries towards retirement, Henry van Deventer, financial planning coach at financial services group Acsis says.

Draft proposals on retirement savings reforms

The National Treasury has released a document which provides an overview of technical discussion papers that will be released this year dealing with how best to ensure that South Africans have access to appropriate savings vehicles and that they make adequate provision for retirement.

Enforcing retirement savings unlikely to work: FIA

A direct move to enforce compulsory preservation is likely to be met with some considerable resistance, Peter Atkinson, technical portfolio manager at the Financial Intermediaries Association of Southern Africa (FIA) says.
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PROPERTY

How not to lose your house

Your first call after retrenchment should be to the holder of your mortgage
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Sectional title properties in demand: Pam Golding

Sectional title properties remain popular in Gauteng because of the many advantages this form of property ownership offers, John Herbst, national sales executive at Pam Golding Properties says.

FNB house price index shows accelerated growth in April

The FNB house price index accelerated to 8.6% in April, compared with the same period a year earlier, from the revised 8.1% in March, the highest year-on-year growth since June 2010.