Capitec has introduced a rewards programme and implemented fee increases as it focuses on becoming a fully-fledged bank. Capitec has always marketed itself as a simple, no-frills bank. In 2009 it repositioned its brand to expand its customer base...
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Better tax compliance means fewer tax hikes
When it comes to increasing tax revenue, it's better to find ways of improving tax compliance, rather than raising taxes. There is a paragraph in the 2022 Budget Review that reads, “an increase in annual expenditure of about R50 billion would...
Why interest rates are rising
The normalisation of interest rates is set to be a major theme for global financial markets in 2022, says Carmen Nel, economist and macro strategist at Matrix Fund Managers. Normalisation of interest rates means different things in different...
The ‘silent’ changes affecting South Africans who are emigrating
The transition from the old emigration regime to the current regime ‒ ceasing of tax residency ‒ came with some relief. However, there were some changes that went largely unnoticed. By Lovemore Ndlovu, SARS and Exchange Control Specialist at Tax...
Vote for your GEPF trustees
The Government Employees Pension Fund (GEPF) will be holding its elections for new trustees from January to May 2022. GEPF elections are held every four years and are an opportunity for pensioners and members of the South African National Defence...
Five ways to boost your income and financial knowledge
Angelique Ruzicka shares five ideas for how you can improve your financial knowledge and possibly boost your income. Boosting your income, especially during a pandemic, can feel nigh on impossible, especially when costs are going up and you’ve been...
Financial tools to keep you on track in 2022
Advances in technology mean that it’s now so easy to keep track of your finances and achieve savings goals, using smartphone apps, websites, and other online financial tools, says Angelique Ruzicka. If you’re still using Excel or some other...
Savvy ways to use your bonus
Many companies are cash strapped due to the impact of Covid-19, but if you are one of the lucky few who got a bonus or windfall this year, it will be tempting to spend it to celebrate surviving another tough year. However, money experts recommend...
Delivery scams on the rise
Cybersecurity researchers are urging consumers to be on the lookout for delivery scams following Black Friday and Cyber Monday, and in the lead-up to the holidays. This comes after Mimecast’s threat-hunting team detected malicious emails and...
Don’t be caught out by delayed premium increases
As medical schemes announce their pricing and benefits for next year, most have delayed their premium increases until later in 2022. The ability of medical schemes not to push through these increases in January is due to the significant surpluses...
Previous Articles
Above-inflation returns for the GEPF
The Government Employees Pension Fund (GEPF) saw a significant 27.5% growth in its portfolio over the most recent financial year, bringing the total value of the fund to nearly R2.1 trillion. According to the annual financial results for the year ended 31 March 2021,...
Government finances as a household budget
Government faces the same tough choices as South African households when it comes to its budget. Last week our new finance minister Enoch Godongwana laid out the plans for government’s spending over the next three years. The medium-term budget lays out the framework...
Government withdraws proposal to impose exit tax on retirement interests
Jean du Toit, Head of Tax Technical at Tax Consulting SA, explains why Government had no choice but to backtrack on the proposed exit tax on retirement interests. Expatriates and those with plans to emigrate will be relieved to learn that the proposal to impose an...
How to provide for your financial dependants
Providing for your family if something happens to you is a priority for every parent. There are several things a member of the Government Employees Pension Fund (GEPF) needs to do to make sure their financial dependants are taken care of. Update your nomination forms...
Five mistakes that derail your wealth
The difference between someone who is financially secure and someone who is not, often has more to do with avoiding wealth destruction than earning a bigger salary or receiving a windfall. As the saying goes, “a fool and his money are easily parted.” Smart money...
What should you expect from a financial adviser?
I have worked in the financial industry for over 25 years and there is very little I don’t know about investing and managing money, yet I use a financial adviser. About 15 years ago I realised that while I knew about investing and money, I needed to have the input of...
It’s time to spring clean your finances
“When you don’t know where your money is, when you have no filing system for your important documents, when you dive into your pocketbook to pull out crumpled bills, when your car looks like a garbage can, when your closets are filled with junk and clutter you cannot...
Self-service facility for GEPF members
Technology is making it easier for GEPF members and pensioners to keep track of their pension information and claims process. By downloading the new GEPF self-service mobile app onto your device, you can remove the frustration of standing in long queues at GEPF...
GEPF establishes complaints handling office
If you are struggling to get your claims processed or not receiving your benefits, help is at hand with the recent establishment of the Government Employees Pension Ombud (GEPO). The state is the largest employer in the country, and the Government Employees Pension...
More households supporting unemployed family
For many working South Africans, the pressure of financially supporting friends and family is unrelenting. Most of us have either experienced a job loss or have a family member who lost an income due to the extended Covid-19 lockdown. It is not surprising then that...