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Immediate access to retirement funds unlikely

Immediate access to retirement funds unlikely

Retirement reform paper calls for comment but no move on immediate access. Retirement fund members hoping to access their retirement funds for urgent financial relief will be disappointed by the retirement reform paper issued by National Treasury...

How ‘bad timing’ affects retirees’ income

How ‘bad timing’ affects retirees’ income

Retirees need to work with their financial advisers to carefully determine the structure, size, and affordability of their future pension withdrawals, particularly in a volatile market environment, says Jean-Pierre Matthews, product head at Matrix...

Video: Plan for retirement

Video: Plan for retirement

Retirement is something we can plan for ‒ and the better our planning, the more we get to enjoy our retirement years. In this video, I am joined by Guy Chennells, Head of Product at Discovery Employee Benefits, who will give us some tips around...

Retirement diversification in action

Retirement diversification in action

Rocco Carr, Business Development Manager at Glacier by Sanlam, explains how we should be thinking about different layers when it comes to retirement diversification. What does diversification mean? The dictionary meaning of diversification comes...

What happens to your GEPF pension after five years?

What happens to your GEPF pension after five years?

As a financial journalist I often come across misinformation spread by unscrupulous financial advisers when it comes to the Government Employees Pension Fund. Most of these untruths relate to members’ funds at retirement, as the financial advisers...

Beware bad advice at retirement

Beware bad advice at retirement

Many members of the GEPF are being given bad advice by financial advisers, who are telling them that they should resign from the GEPF before retirement. Members of the Government Employees Pension Fund (GEPF) are being approached by financial...

How tax works on your retirement fund

How tax works on your retirement fund

One of the most common complaints I receive from pensioners is that they pay tax on their retirement benefits. While one can sympathise with the plight of pensioners who often struggle to come out on their retirement income, one needs to understand...

Treasury’s solution to early withdrawal

Treasury’s solution to early withdrawal

As part of its ongoing retirement reform process, National Treasury is proposing the introduction of a two-bucket retirement system to provide for shorter and longer-term needs. John Anderson, executive at Alexander Forbes, says it may work along...

Do you have an unclaimed benefit with the GEPF?

Do you have an unclaimed benefit with the GEPF?

The Government Employees Pension Fund (GEPF) is concerned with the increase in the number of unclaimed benefits and wants to pay them out. If you are a former government employee who did not claim a pension on retirement, it is possible that you...

Maya Fisher-French author of Money Questions Answered

Previous Articles

Nothing shocking about new retirement fund emigration rules

South Africans seem to live in constant fear of the government going after their savings. New tax rules for emigrants' retirement funds is just the latest development to fuel this anxiety. Andre Tuck, Senior Investment Consultant at 10X Investments, has a close look...

Proposed additional exit tax leaves industry experts confused

Tax Consulting SA gives the lowdown on a new draft tax bill which essentially proposes an additional exit tax on retirement funds. It is not uncommon for National Treasury and the South African Revenue Services (SARS) to propose, and subsequently gazette, amendments...

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...

Retirement planning is not a once-off event

Jaco Prinsloo, Wealth Manager at PPS Wealth Advisory, has some sensible advice around retirement planning. As a wealth manager, I have observed that there are two typical clients. Some dread retirement, while others look forward to it. Those who dread it are the ones...

Make the right choices from the start

The great thing about getting your first paycheque is that you have the opportunity to do the right things before the bad habits kick in. The day that first paycheque hits your bank account you feel like you have finally arrived. But how you manage that money will...

Listen: How to decide on the right retirement village

We all go through the aging process, and one of the big decisions we have to make ‒ for ourselves or for our parents ‒ is whether (and when!) to downsize and move into a retirement village. This is not an easy decision and can be further complicated by the different...

The effects of delaying your retirement

What if you could change your retirement by working just one more year? André Wentzel, Head Client Solutions Savings at Sanlam, explains how delaying your retirement by one, three or five years could fundamentally change your savings and enable a better quality of...

Treasury says “no” to pension loan proposal

National Treasury has made it clear that it does not support any calls to allow members to borrow money from their pension funds. This was in response to a Private Member’s Bill to amend the Pension Funds Act. This Bill was put forward by DA MP Dr Dion George as a...

Fancy new car or a fabulous retirement?

Khwezi Jackson, investment consultant at 10X Investments, explains how buying a fancy new car could sabotage your retirement funding. Seeing a headline, ‘Spending R10,000 per month on a new car’, got me thinking: Why would anyone spend that much money every month to...

Video: The true cost of cashing in your pension

Do you know the true future cost of cashing in your pension? The long-term consequences are not reversible and will leave many financially destitute when it comes to retirement. This video, as part of a member education series for the Government Employees’ Pension...

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