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By all accounts, 2016 looks set to be a watershed year for the financial services industry. Regulators and government are pushing ahead with legislation that will both encourage transparency and encourage reform in the industry.
Like Retirement Annuity (RA) Seasons in the past, tax payers will once again get the chance this February to reduce their income tax by making a top-up contribution to their retirement annuity. With the upcoming taxation laws being introduced on 1 March 2016, however, this month presents one last opportunity to reap even greater rewards.
According to National Treasury, only about 10% of South Africans save enough to maintain their pre-retirement level of consumption after they stop working.
Do you think short-term insurance broking will survive the AI plus humanoid robotics age?