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As a central knowledge portal to the retirement and related industries, EBnet publishes a range of daily articles submitted by a range of industry organisations, experts and contributors. Readers can also comment on and contribute to articles.

October 31, 2018

“Retirement is not what it used to be” might sound trite, but it certainly rings true in the 21st century where people are living much longer, they are physically more active and stay healthier for longer.  “Official” retirement could be just another step-change to a different lifestyle or career.

Investec’s Stephen Koseff is interviewed by René Grobler, Head of Investec Cash Investments, regarding his personal view on the next stage of his life.

“I don’t think that people should retire. For me, the kind of stuff that I will be doing is just going to be different” says Koseff. ” There is an abil...

Despite the tax benefits on retirement contributions and the tax free growth, the fact that pension income benefits are ultimately taxed has led people to question whether saving in a retirement fund really is better than making your own retirement savings arrangements with after-tax earnings.

One of the main ways government encourages people to save for retirement is to offer tax deductions on saving in an approved retirement fund. While this tax relief can be very helpful when you’re working and contributing to a retirement savings fund, the benefits that you eventually receive from your reti...

October 30, 2018

About 14% of total spending, according to recent figures. A quick review of the data shows that this proportion has remained relatively stable over the last decade. In the second quarter of 2009, employment costs contributed 15% of total expenditure in the formal business sector. Although there hasn’t been a major change over time for the sector as a whole, there are notable differences between industries.

Let’s take a look at the breakdown of total spending.

The formal business sector1 spent a total of R2,39 trillion in the second quarter of 2018, according to the latest Quarterly financial s...

October 29, 2018

Living annuity policyholders managed to keep the average drawdown rate practically unchanged at around 6.6% for two years running, despite a steep rise in the cost of living in South Africa over this time.

The 2017 Living Annuities Survey compiled by the Association for Savings and Investment South Africa (ASISA) shows that living annuity policyholders withdrew on average 6.64% of their capital as income in 2017, compared to 6.62% in 2016.

Taryn Hirsch, senior policy advisor at ASISA, says when ASISA started collecting consolidated statistics on South Africa’s living annuity book in 2011 the ave...

October 26, 2018

The Financial Sector Conduct Authority (FSCA) warns the public to act with caution when dealing with Mr Pieter Davis. The FSCA received information that Mr Pieter Davis created a website with all Plus Plan’s details (FSP number and physical address), and markets investment products. On the website the contact person is Mr Pieter Davis* and it is stated that the phone systems are being upgraded, with people being advised to contact brokers or request a call on the contact form.

The website is not created by Plus Plan, and Mr Pieter Davis is not known by Plus Plan. Plus Plan with FSP number 2234...

It was clear going into this Medium Term Budget Policy Statement (MTBPS) that is was going to be much tougher than previous years, simply because economic growth and tax revenues are so much worse than had been forecast. Economic growth expectations for 2018 have been halved from 1.5% in the February Budget Speech to 0.7% now. Likewise the messaging is very different compared to February’s Budget Speech and the last MTBPS which was delivered by former Finance Minister Gigaba.

Slower growth will have a ripple effect in terms of tax collection which will, in turn, place additional pressure on fis...

Medium Term Budget backs Ramaphosa’s stimulus plan.

Government’s 2018 Medium Term Budget Policy Statement (MTBPS) provides clear links between the medium-term expenditure statement on the one hand and, on the other hand, President Ramaphosa’s five growth enhancing reforms, namely:

  • reprioritisation of expenditure

  • support for job creation

  • establishment of an infrastructure fund

  • addressing pressing problems in education and health

  • promoting investment in municipal infrastructure

Spending to be done wisely

Importantly, government’s intention to get things going has not led t...

When it comes to their social media preferences, U.S. teens are about as loyal as Brutus was to Caesar. Back in 2013, Facebook was their social network of choice. In 2014, Instagram took the throne for a while before being replaced by Snapchat in 2016.

Now, in the fall of 2018, Snapchat is still the number 1 for teens in the United States, but Instagram is making up ground. According to the latest edition of PiperJaffray’s bi-annual “Taking Stock With Teens” survey, 46 percent of the 8,600 teenagers polled named Snapchat their favorite social media platform, while 32 percent of...

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