Explore the Category

Getting to grips with business interruption cover during pandemic

14 May 2020

A briefing by National Treasury (Treasury) on the financial impact of COVID19 on both the economy and national budget, published 30 April 2020, makes for depressing reading. Treasury indicated that the IMF estimate of a 5,8% contraction in domestic GDP for 2020 was optimistic given the “high levels of uncertainty [about the] duration and intensity of the pandemic, the subsequent macroeconomic fallout, and the associated stresses in financial and commodity markets”. They warned that tax revenue could decline by almost a third and predicted that between 690 000 and 1,7 million full-time equivalent jobs could be lost. Six weeks into lockdown, and with no sign of an end to the crisis, businesses are taking strain.

An opportunity to engage with clients

05 May 2020

South Africa’s financial advice community should prepare for a flood of requests from clients to review their living annuity drawdown limits. National Treasury (NT) has announced that it will expand access to capital in living annuity funds by allowing annuitants greater flexibility in choosing their drawdown rates. The minister of finance will temporarily amend the amount referred to in paragraph (b) of the definition of ‘living annuity’ in section 1(1) of the Income Tax Act as well as allow for changes “irrespective of the date on which the living annuity contract was concluded”. Annuitants will be able to drawdown between 0,5% and 20% of their living annuity capital (previously 2,5% to 17,5%).

The blurring line

14 April 2020

It is time to step away from the word ‘passive’ in passive investment management and accept that all investment strategies depend on dozens of active investment decisions. This view emerged during a panel discussion at the 2020 Investment Forum, held in Cape Town in March 2020. The panellists, who presented in-camera following the event’s quarantine due to COVID-19, were tasked with answering whether the active versus passive debate missed the mark?

Should Eskom be powered with pensions?

25 February 2020

With the budget speech looming tomorrow, deepening state of financial disarray at the state power utility Eskom is a thorn in the flesh of the national economy that minister of finance, Tito Mboweni will have to address. The much-publicised and forever increasing problems at the embattled parastatal are expected to take center stage at the upcoming national budget speech, due to their stunting effects on the economy – among other things like the discomfort they impose of South Africans.

quick poll

Question

The strongest deterrent against FSP compliance missteps is or should be:

Answer

A criminal conviction Debarment Fine or penalty Any of the above can work

View the Results

Are South Africans choosing the safer bet

05 February 2020

Feeling the way through FICA

15 January 2020

Taking TCF to a new level

13 November 2019

Patience is needed in the great cost debate

08 October 2019

Adaptability is your superpower

12 September 2019

Will this be the solution?

28 August 2019

The situation is worse than expected

31 July 2019

Take a leap of faith and appreciate your value

25 July 2019

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Talked About Features / Straight Talk