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Longevity risk: An extra decade in retirement means saving 50% more by age 65

04 September 2013

“For each additional year you expect to live in retirement you need to accumulate approximately 5% more capital,” says Andrew Davison, Head of Institutional Asset Consulting at Acsis. That means if you exceed today’s average life expectancy by a decade, y

SA employers urged to change retirement savings pattern by championing employee budgeting programmes

04 September 2013

South African households are not saving adequately for retirement because they do not have the financial know-how to plan and budget effectively. Addressing this has become a priority item on government’s agenda, who says South Africa’s employers have a s

Retirement fund survey: members want better – and different - communication

03 September 2013

Members of South African retirement funds want more effective communication. They say there are gaps between what they want and what they are receiving from their retirement funds, in terms of both the type of communication they receive and the way in whi

Costs not the only consideration when reforming the retirement industry

02 September 2013

Over the past two years National Treasury has distributed five discussion papers in which it proposes far-reaching changes to South Africa’s retirement industry. One of Treasury’s main concerns is that the costs levied by financial institutions on retirem

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Question

What do you believe will be the biggest challenge when the COFI framework is finally implemented?

Answer

The cost and complexity of relicensing Demonstrating customer outcomes through data and reporting Embedding a customer-first culture across the business Aligning existing compliance frameworks with COFI requirements

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