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...
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My Retirement
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...
Video: Make Sure You Receive Your Retirement Benefits On Time
As you enter retirement, one of your biggest risks is a delay between when you receive your final salary and the first payment from your pension. This video, as part of a member education series for the Government Employees’ Pension Fund (GEPF),...
Video: Changes to provident funds
On 1 March 2021 the Taxation Laws Amendment Bill of 2020 came into effect. It contains changes that have a direct impact on the members of provident funds. These changes are part of a process to simplify the retirement fund industry and bring...
Supporting your retired parents
Many retirees have not saved enough to meet their financial needs, leaving children with the burden of supporting their retired parents. A retirement survey by Sanlam found that 51% of retirees cannot make ends meet, and one-third do not have...
The true cost of cashing in your pension
Have you heard of the term Sdudla? I recently came across it in relation to members of the GEPF, specifically members who are teachers and nurses. This is the practice of resigning from your post to access your pension fund. As teachers and nurses...
Think before you plunder your retirement fund
Right now you may be feeling overwhelmed by debt, but the impact of drawing on your retirement fund will leave you financially destitute at a very vulnerable time in your life when you may be too old to work. You may not have many options in terms...
Make sure you receive your retirement benefits on time
As you enter retirement, one of your biggest risks is that you could experience a delay between when you receive your final paycheque and the first payment from your pension. This is true in both the private and public sectors and managing this...
Video: GEPF: Who receives your pension benefits?
One of the questions I receive most often from retirement fund members is about who has a claim to their retirement funds if they die in service. This video, as part of a member education series for the Government Employees Pension Fund (GEPF),...
GEPF: Who receives your pension benefits?
One of the questions I receive from most retirement fund members is about who has a claim to their retirement funds if they die in service. As a member of the Government Employees Pension Fund (GEPF) one of the most important documents you need to...
Previous Articles
Video: Why it pays to be a member of the GEPF
As a financial journalist I am increasingly concerned about misinformation provided to members of the Government Employees Pension Fund (GEPF) by unscrupulous financial advisers. Some advisers use fear tactics, telling members that their funds will be stolen or...
What is the tax benefit of an RA?
A reader asked: “I am 38 years old and I am not happy with the returns on my Retirement Annuity (RA). I am considering scaling down my monthly contributions and rather investing the money offshore myself through a stockbroker. What are the tax differences once I reach...
No early access for GEPF members
Any changes relating to early access to funds in a private-sector pension fund or RA will have no bearing on members of the GEPF. I have received many queries from readers about the proposal to allow members of retirement funds limited access to their retirement funds...
Why it pays to be a member of the GEPF
As a financial journalist I am increasingly concerned about misinformation provided to members of the Government Employees’ Pension Fund (GEPF) by unscrupulous financial advisers. A recent example is a reader who was told by an adviser that on retiring after 20 years...
Reclassification of inward-listed ETFs – what it means for you
The market is alight with speculation over a statement which quietly crept into Finance Minister Tito Mboweni's recent medium-term budget policy statement around the reclassification of inward-listed financial products. National Treasury has made a decision to...
Early access to pensions mooted
Legislation will be introduced to allow early access to one's pension, but it's not an end-of-year bonus. In the medium-term budget address, Finance Minister Tito Mboweni confirmed that National Treasury will be introducing legislative changes to allow early access to...
Is your retirement fund safe from plunder?
Many South Africans believe that their retirement funds are under attack. Financial planners are inundated with queries from concerned clients and some are even stopping their retirement contributions. Is this fear well founded or an over-reaction to media headlines?...
Should pensioners worry about interest-rate cuts?
By Mica Townsend, Business Development Manager at 10X Investments Most pensioners who live off interest from savings have had their incomes dramatically reduced by the interest-rate cuts of the last few months, but this is not the only ‒ or even the worst ‒ risk they...
Video: Do I have to purchase an annuity at retirement?
Chris is about to retire and wrote to us asking what he should do with his provident fund. A provident fund (unlike a pension fund or retirement annuity) allows you to take the full lump sum at retirement; you are not forced to purchase an annuity. Chris asked whether...
Should you be worried about prescribed assets?
The debate around prescribed assets grabs headlines from time to time, but when you cut through the hysteria there is largely a consensus that pension funds could be used to boost infrastructural development in South Africa. The important question is about how this...