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We are all generally aware of the raft of legislative and regulatory changes coming at the insurance industry.
People’s life expectancy is increasing, with a corresponding increase in spending on medical and health-related services. This makes the provision for retirement important. People’s pension funds are often the largest portion of their financial provision for retirement and it is therefore paramount that retirement funds grow at a consistent rate in order to ensure that individuals have sufficient savings at retirement.
The motive behind National Treasury publishing the demarcation regulations on 23 December shows a disregard for the rights of ordinary people under the Bill of Rights and puts the government at odds with the Constitutional Court which, in judgment after judgment, has stressed that the Constitution plays a special role in protecting vulnerable people.
The Retail Distribution Review (RDR) has been one of the major talking points in the financial services industry for the past three years now. The Financial Services Board (FSB) is keen to implement it and the industry will reluctantly accept it.
As an adviser reading this article, which discipline do you find most important for retirement planning?