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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.

August 30, 2019

The Sanlam Board has announced the appointments of new Board members in line with the Group’s proactive approach to enhance governance, transformation and the continued strengthening of the leadership at board, executive and management levels. These appointments are also aimed at supporting the success of the broader Group and supporting its growth ambitions.

Messrs Andrew Birrell, Elias Masilela and Kobus Möller have been appointed as independent non-executive directors to the boards of directors (Boards) of Sanlam Limited and Sanlam Life Insurance Limited. In addition, Ms Jeanett Modise, the...

From September this year all commercially sponsored umbrella funds must include a charge table disclosing fees for investment management, administration, advice and other charges.  The new Retirement Savings Cost (RSC) Disclosure Standard aims to make it easier for employers to compare apples with apples and choose the best umbrella fund for their employees’ needs. However, as with most new legislation, teething problems are to be expected as financial services providers (FSPs) come to terms with the new regulation.

This is according to Michelle Acton, Principal Consultant at Old Mutual Corpora...

In the face of rising living costs and high levels of household debt, the notion of retiring comfortably seems beyond reach for many South Africans. However, retirement income specialist Just maintains that soon-to-be retirees can facilitate a smoother transition towards a sustainable lifestyle in retirement by rethinking their essential spending. 

Essential expenses are the cost of physical survival, covering the basic costs of living; accommodation, food and clothing, utilities, medical, transport and insurance. Latest figures from Statistics SA reveal that a household’s essential spending ma...

Its once again the time of year when you need to consider your medical scheme plan choice for the forthcoming year. Those with many thousands accumulated in their medical savings account (MSA) may be wondering how best to deal with this money. In addition, they may be wondering if they can draw this money out of the Medical Scheme. Unfortunately, the Medical Schemes Act does not allow for this.

One needs to think carefully and consider all possible alternatives when choosing your option for the coming year. Most medical schemes have options that include a MSA. This is a mechanism to assist memb...

The Association for Savings and Investment South Africa’s (ASISA) Retirement Savings Cost (RSC) Disclosure began on 1 March but becomes compulsory on 1 September for all ASISA members with commercial umbrella funds. The new legislation standardises the disclosure of costs to clients incurred in an umbrella fund, expressed as a percentage of the investment amount. Arguably, brokers are not prepared for the shift, which calls for careful analytical ability to compare and interpret results.

Shakeel Singh, CEO at Sanlam Umbrella Solutions, says, “Previously, costs were disclosed in different ways...

In June this year the Institutional Limited Partners Association (ILPA) published the latest edition of its principles under the title  “ILPA Principles 3.0: Fostering Transparency, Governance and Alignment of Interests for General and Limited Partners.”

The new principles take a much-needed step forward both in advancing environmental, social and governance policies (ESG) practices in the private equity industry and providing strong ESG governance and transparency.

The principles were first published in September 2009 to encourage dialogue between Limited Partners (LPs) and General Partners (GP...

Delivering exceptional investment performance in current market conditions is no simple task, given that uncertainty and unemployment remain critically high whilst economic growth, liquidity and interest rates remain stubbornly low.

In this difficult environment, shares that were priced perfectly for uninterrupted growth have fallen hard to reality, and companies that appeared cheap a year ago are even cheaper today.

Numerous businesses listed on the Johannesburg Stock Exchange (JSE) have been left debt-strapped, with earnings growth weak or absent, and dwindling share prices. Management teams h...

Many employers who are retrenching staff for operational reasons differentiate between employees who are over age 55 and under, but there are a number of considerations that should be taken into account to benefit the employee, says Jenny Gordon, head of Retail Legal at Alexander Forbes.

We often see that if the member is over 55, the termination of service is determined by the employer to be early retirement whereas for employees under age 55, it is retrenchment. In some situations, an employee who is being retired might receive additional benefits such as a medical scheme subsidy so it is ben...

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