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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.

Communicating bad news to employees while showing them your support may sound like a dichotomy. However, it is a vital skill that will ensure their wellbeing, and that of the business.

Bad news of any kind can diminish employee wellbeing, with repercussions on their commitment to the organisation, their work engagement, morale, performance and productivity, even staff retention. Therefore, it is important to deliver bad news with due caution and care, which is underpinned by the following four fundamentals.

Ensure procedural fairness

Managers are frequently the messengers of bad news, and not a...

June 30, 2020

On 26 June 2020, the Financial Sector Conduct Authority (FSCA) published final amendments to the General and Short-term deposit Codes of Conduct as well as Fit and Proper requirements under the FAIS Act.

The amendments are necessary to contribute to the fulfilment of the FSCA’s legislated objectives and are ultimately intended to promote the fair treatment and protection of financial customers.

Some of the amendments emanated from policy processes that started as far back as 2014, such as the Retail Distribution Review. The introduction of the Insurance Act also resulted in various references to...

Life in lockdown during the Covid-19 pandemic has given people time to reflect on their personal affairs, leading to an increase in numbers of people making and updating their Last Will and Testament in a bid to regain control over their lives.

With social distancing protocols however, having a will witnessed by two persons who will not be benefitting from it, and who are together at the same time, as prescribed by the Wills Act, could be difficult. A will cannot be signed electronically but a competent person, who is older than 14 and who does not benefit from it, may sign as a witness.

Print t...

The rise in cybercrime ranging from a data breach to identity theft, makes each of us vulnerable daily, as cyber criminals constantly seek to outsmart protective measures in place. This is of particular importance in the current ‘work from home’ environment as many people leave the relative protection of their work-based IT systems to use a home PC that may not be so well protected.

Cyber-criminals are clever, and if you don’t think anyone is watching you online, think again.

Cyber resilience should be what every business (and now home office space) should strive for, and it’s a constant task to...

Every aspect of life has been affected by the COVID-19 crisis, and estate planning is no exception – especially the execution of wills. While the exact rules for the execution of wills vary from jurisdiction to jurisdiction, the pandemic confronted all with the same problem: Complying with rules of formality while adhering to lockdown restrictions.

This is according to Johann Jacobs, a consultant in Cliffe Dekker Hofmeyr’s Trusts and Estates Practice, who notes that while some jurisdictions were quick and decisive in dealing with the issue – promulgating interim legislation and granting concess...

Three P’s you need to discuss with your financial adviser after the recent emergency budget speech.

Although the supplementary Budget Speech on Wednesday was touted as an unprecedented emergency intervention – it left quite a few questions unanswered especially in terms of the highly publicised public sector wage bill discussion, quelling widespread corruption and just how government plans to make up a more than R300 billion shortfall in tax collection.  What was clear, however, was that South Africans will have to cough up more from next year to foot the bill – and they will need sound financi...

In 2020 new vocabulary has seeped into global consciousness. From ‘new normal’ to the more practical yet equally disliked ‘social distancing’, the additions to this year’s dictionary paint a bleak, dystopian picture.

But in the last few weeks, fresh terms are being met with interest from wanderlust-stricken travelers and cautious optimism from governments and businesses hoping to rebound from the economic damage of COVID-19.

‘Travel bubbles’, ‘travel corridors’ and ‘air bridges’ are terms to describe formal agreements between governments allowing travelers to bypass strict quarantine measures ba...

COVID-19 SERIES 4 – 2020/21 supplementary budget

Boosting economic growth is the only option left but will the politics get out of the way?   


  • National Treasury forecasts economic growth of -7.2% (in line with SARB’s -7.1%) and slightly worse than our April forecast of -6.1%.

  • The contraction in growth leaves a tax shortfall of R304bn (inclusive of R26bn) tax relief compared to the February budget.

  • New revenue measures are at the margin and only come in 2021/22 and 2022/23 at R5bn and R10bn respectively.

  • Expenditure rises by R145bn (inclusive of Land Bank recapit...

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