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PFA orders death benefit allocations to be set aside after sons complain

21 November 2013 | PFA - Pension Fund Adjudicator

The Pension Funds Adjudicator Ms Muvhango Lukhaimane has ruled that death benefit allocations be set aside in two separate matters that came before her and ordered that thorough investigations be carried out into the circumstances of all potential beneficiaries.

Regulator’s proposals on cell captive insurance are largely positive, says industry leader

19 November 2013 | General

Despite more regulation coming down the track in South Africa, the Financial Service Board’s proposals to strengthen the regulatory framework of the third-party cell captive insurance industry are largely positive. This was the overall view expressed at the most recent insurance management forum hosted by Norton Rose Fulbright South Africa.

SA death and disability insurance shortfall increases to R24 trillion in 2013

13 November 2013 | Association for Savings & Investment SA (ASISA)

South Africans remain critically underinsured for death and disability by as much as 60%. In 2013 the insurance gap, which is the difference between existing life and disability cover and the actual insurance need of South African earners, widened to a staggering R24 trillion.

FSB directive clarifies industry position on causal event charges

12 November 2013 | Financial Sector Conduct Authority (FSCA) (was FSB)

In an effort to improve the number of South Africans who can retire comfortably, with a large enough savings net, Government has aggressively been embarking on a retirement reform programme which will have a significant impact on the retirement industry.

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