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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.

The benefits of saving are well known, as are the tax benefits offered by tax-free savings accounts (TFSA) and retirement annuity funds (RA). But what is unclear is which savings vehicle is better. Before we look at what the benefits of each, let's look at factors to consider when choosing between a TFSA and an RA.  

What is the difference? 

The TFSA was introduced by the National Treasury to encourage South Africans to save in an easy, flexible and affordable way for future expenses and long term investment goals. To allow self-employed individuals and investors facing a retirement shortfa...

January 31, 2020

The Financial Sector Conduct Authority (“FSCA”) published a media release on 21 November 2019 warning the public against the activities of Mr Tom Zambon.

It is now brought to the attention of the FSCA that there was another Mr Tom Zambon who was employed by Ashburton in Jersey in the past. The person purporting to be Mr Tom Zambon in South Africa using social media to solicit funds from the public is not the same Mr Tom Zambon who used to be employed by Ashburton in Jersey.

According to the FSCA’s records, the individual purporting to be Mr Tom Zambon in South Africa is not an authorised Financi...

January 31, 2020

The Financial Sector Conduct Authority (FSCA) warns the public against doing any financial services business with Mr Martin Sethole and Nadex Investments (Pty) Ltd, Neither Mr Sethole nor Nadex Investments are authorised to give any financial advice or render any intermediary services in terms of the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act).

The FSCA received information that Mr Sethole is encouraging members of the public to invest in a binary options strategy with Nadex Investments and promises high returns within 48 hours. He alleges that Nadex Investments is a subsi...

The International Monetary Fund (IMF) has published the outcome of its Article IV Consultation with South Africa, which was held from 6 – 21 November 2019. Part of the surveillance function, as prescribed in the IMF’s Articles of Agreement, requires that the IMF visits each member country twice a year to conduct economic and financial assessments of government policies and provide policy recommendations. The IMF staff held meetings with the South African government, the South African Reserve Bank, stateowned enterprises (SOEs), business, organised labour, and academia. The outcome of their con...

January 30, 2020

What is business email compromise?

Business email compromise (BEC), also known as interception/impersonation fraud, can be defined as ‘a criminal act where cyber attackers illegally access an email account and communicate as if they are the user’ (Sabric, 2019).

Cyber criminals gain access to an individual’s business email and impersonate people who use that account (executives, senior managers or supply chain partners) in order to intercept and redirect invoices and also change banking account details to their nominated account details. They can also in some cases trick sta...

January 29, 2020

The Sasfin BCI Flexible Income Fund won again last night at the prestigious Raging Bull Awards.  The Fund, managed by Philip Bradford, won the award for Best South African Multi-Asset Income Fund over 3 years ending December 2019, by generating a cumulative return of 39% for the period, beating inflation by 25% and the JSE All Share Index by 15%. 

The awards remain coveted, with competition increasing dramatically over the years. In 1997, there were less than 50 unit trust funds when the Raging Bulls were first presented; now there are more than 1000, and a repeat of the win...

As long as South Africa’s pipeline of future problem solvers continues to deliver a declining trickle feed of competent mathematics learners, the country cannot expect to achieve a meaningful growth trajectory. This is according to Lusani Mulaudzi, the new President of the Actuarial Society of South Africa.

Only 2%, or 4 415, of matriculants who wrote mathematics last year achieved a distinction (80% or more), according to the Department of Education National Senior Certificate School Subject Report for 2019. Mulaudzi says the implication is that only 4 415 learners have a real chance of stud...

January 28, 2020

The Financial Sector Conduct Authority (FSCA) warns the public not to conduct any financial services business or invest funds with Moneyweb Corporate Bank Limited (also trading as Moneyweb Private Bank). The Authority has been made aware of suspected breaches of financial sector laws by this entity. Moneyweb Private Bank is not authorised in terms of the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act), to render any financial advice and intermediary services.

According to information received by the FSCA, Moneyweb Private Bank is fraudulently using the logo of Moneyweb – a Sou...

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