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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.

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.

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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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.

Retirement news & opinion

'Insuring' your nest egg when you buy shares

Many a retirement investment is threatened by risk and market volatility. But "safer" interest-bearing products are being reduced by inflation - so investors have to find a less risky way to maximise the growth of their capital in the stock market.

Economics of divorce

While waiting for Marriage Act, rights are given to Muslim couples

Hands off, says pension boss

The chairman of the most powerful pension fund in South Africa says that if anyone in the government tries to use it as a piggy bank for pet projects he will send him packing in no uncertain terms.
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PIC eyes a $3.8bn private equity push

The government pension fund could invest as much as $3.8-billion in African private equity, its CEO said, as the continent's top public pension manager looks for higher returns beyond its home market.

Pension fund invests R1bn in IDC ‘green bond’

The Government Employees Pension Fund has invested R1bn in a "green bond" issued by the Industrial Development Corporation (IDC), which will be used to finance green economy projects.

Few governments adequately recognise longevity risk: IMF

Few governments or pension providers adequately recognise longevity risk, the International Monetary Fund (IMF) said on Wednesday.

Calculating your pension model

There are choices to be made when investing for old age

Retirement savings not the ‘big bang’ the ANC hopes for

After the government unveiled its ambitious infrastructure plans, the question on everyone’s lips was how to pay for it.

Retirement fund assets up 13% in past decade

The latest Alexander Forbes Manager Watch survey of retirement fund investment managers shows that assets under management have grown a compound 13% to R2.7 trillion rand over the past decade.

Healthy life industry attracts new premium income

The South African life insurance industry held record assets of R1.45-trillion at the end of 2011, an increase of 13% from the R1.28-trillion held at the end of 2010.

Retirement tax changes delayed to March 2014

As flagged by the Treasury in last year’s Budget, major changes to the taxation of retirement contributions are being implemented, but only from March 1, 2014 and not from March this year as was stated in last year’s Budget.

Mistakes that ruin your retirement

According to a commonly accepted statistic, around 94% of working South Africans do not save enough for their retirement.
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Don't rely on living on less

Cost of living does not automatically drop the day you retire

How fees can eat away at your pension

A living annuity with high costs is a nightmare unless you draw a pension well under 5%
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Pension fund has no obligation to adhere to will

A pension fund is under no obligation to strictly adhere to a will or a nomination form when deciding on the allocation of death benefits.
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Do you make up the 6% who can afford to retire?

As a South African, it's time to seriously think about your retirement plan and be cognisant of our changing world of work, advises Rowan Burger, Head of Investment Strategy at Liberty Retail SA

'One in three not able to retire'

One in three South Africans believe that the government will take care of them in old age, according to the recent bi-annual Old Mutual Savings and Investments Monitor.

Retirement reforms must be 'sustainable'

It is critical that government's planned retirement reforms be structured in a sustainable way in the long term, says Willem Loots, head of umbrella fund solutions at Liberty Corporate.

Pension funds toil under new rules

The retirement fund industry may battle to comply with tougher regulatory amendments whose complexity, industry executives warned yesterday, could result in smaller and medium players seeking strength through mergers.

How to protect your capital in your golden years

During your working years you should, ideally, be building up your retirement capital by making continuous contributions from your earnings.

Withdrawal benefits can be withheld by employers

Nine different complaints to the office of the Pension Funds Adjudicator were dismissed this week because the PFA found that the withholding of withdrawal benefits in each case was in line with the requirements of the Pension Funds Act.

Government must strike correct balance with retirement

Government's proposed overhaul of SA's current retirement funding model is a positive step given the alarming lack of retirement savings among the majority of South Africans.

Asking the right questions when you retire

By asking some key questions now, retirement day could lose its scare factor, and become a day to look forward to instead.

Retirement fund trustees must 'stick to strategy'

With many retirement fund trustee boards and members reviewing their investment portfolios for 2012, it is critical that they avoid making rash decisions and structural changes to portfolios in the hope of preventing any financial losses.

Retirement: Weighing up the life-rights living options

If you're looking at retirement developments in South Africa, chances are you're weighing up sectional title ownership or life rights.

Latest 401(k) lawsuit highlights ongoing fee concerns

While workers can't do much when a stock market sell-off hits their 401(k) balances, they can speak up about poor investment choices and unreasonable plan fees.

Message for SA pension investors: Don't panic!

With a litre of petrol costing R25 and a litre of milk R23 in Greece at the moment, SA investors may have less reason to panic than their European counterparts.
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'Women must contribute more to retirement'

The latest population statistics released by Statistics South Africa, which revealed that women are expected to live on average four years longer than men, has highlighted the need for women to take retirement planning more seriously.

Hedge funds can play role in retirement industry

The recent high levels of volatility experienced by local and global stock markets has once again highlighted the need for investors to effectively diversify their retirement portfolios.
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