Retirement

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Make tax-free savings work hard for you

03 March 2015 | Savings & Investments

Last year’s budget speech made way for legislation allowing for tax-free savings accounts. This forms part of Government’s drive to create a culture of savings in South African households by encouraging and incentivising non-retirement savings.

When should you start investing in tax-free savings?

27 February 2015 | Savings & Investments

Changing South Africa’s bad savings culture will be no easy task but examples of other emerging markets who have succeeded in this area provide important learnings. Government-led initiatives are key, and all the better if industry too becomes a catalyst for change through better financial education and innovation that encourages much-needed prudence. But the bottom line remains: no matter how small, the sooner individuals begin saving, the better. So in order to effect a new generation of savers, how soon should one begin saving?

Topping up your retirement annuity

10 February 2015 | General

When, why and how?

When to take your retirement benefit

05 February 2015 | General

For most employees, their retirement is something that they look forward to and start planning way before their last day of work arrives. They have it all sorted – how much of their retirement benefit they will take as a lump sum, how much will be used to buy a pension, with which provider they will buy the pension, and what type of a pension benefit they will buy. But what about those for whom retirement comes unexpectedly? Those who were so focused on the pre-retirement phase of their life that they did not have the time to focus on the post-retirement phase. Or maybe they did not want to face the reality of them having to leave the “safety” of their work-life for the uncertainties of life thereafter. There are also those employees that do not need an income immediately after they retire, either because they then start another job or have other sources of income.

quick poll

Question

If you had to hazard a guess, when do you reckon the COFI Bill will be signed into law?

Answer

2026, as promised 2027 looks more likely Impossible to say More consultation needed

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