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...
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...
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...
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),...
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...
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...
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...
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...
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...
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...
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...
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?...
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...
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...
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...
By Jenny Gordon, Head: Technical Advice Investments, Product and Enablement at Alexander Forbes From 1 June to 30 September 2020, retirees with a living annuity will be able to draw down between 0.5% and 20% of the asset value of their living annuity. People will be...
The market collapse highlights the need for good financial planning in retirement. The market collapse on the back of the coronavirus pandemic has created a buying opportunity for those who are still investing towards retirement, but it comes at a very bad time for...
Do I have to purchase an annuity at retirement? When I reach retirement age, must I invest my provident fund in an annuity, or can I just build a unit trust portfolio with an asset manager and draw a yearly “salary” of not more than 4%? Will there be any tax...
The last four years of poor market performance highlighted the risk of relying on capital drawdown in retirement. In this final edition of our Investment Series with Marriott Income Specialists, Maya (@mayaonmoney) and Mapalo (@womanandfinance) discuss how to start...
If you are a member of a pension fund or have a retirement annuity, two-thirds of your final retirement amount must be used to purchase a retirement income. You can select between a guaranteed life annuity or a living annuity. What is important to know is that once...