A lengthier recession awaits if we don't take drastic measures to save the economy in a Covid-19 world, writes Mbhazima Shilowa.
High level clouds. Warm.
His analysis was brutal: South Africa is not a country of savers. Our pension funds are effectively the only pots of money left. This was frightening and sobering to hear from the head of state, writes Adriaan Basson.
Any investments used to support the development of the State, should not undermine financial integrity, investment mandates or the sustainability of investment and pension funds, says a Cosatu spokesperson.
Here’s the rider in the plan Ramaphosa will have to explain to the nation if he pushes it through: no Eskom employee may be retrenched. Eskom has 46 000 employees and an annual salary bill of R30bn, writes Adriaan Basson.
A campaign to reclaim billions of rands in unclaimed benefits is about to kick into high gear. The Unclaimed Benefits Committee, representing a group of claimants, and NPO Open Secrets, are planning to lobby Parliament.
The assets of cancelled and dormant funds were often moved into unclaimed benefits funds held by the fund administrator. Since 2008, the assets of these UBFs have increased from R450m to over R8bn, says a new report.
The Government Employee Pension Fund currently has R50.6bn invested in unlisted domestic equities, compared to R970bn in listed equities.
Average SA take-home salaries increased by 4.7% in real terms in August on a year-on-year basis.
The World Bank has proposed a contributory pension fund, as a way to redistribute wealth and help SA's poor acquire financial assets.
While the number of private pensioners in SA grows, the total pensionable population is growing faster, according to economist Mike Schüssler.
There are demands for transparency amid evidence that the PIC may have invested billions of rand of workers’ money into assets that may have had a political motive, says Terry Bell.
Under a fifth of South Africans over the age of 60 are receiving private pensions, a new report has shown.
It is clear to me that labour’s defence of jobs will not extend to the heavily bloated SOE management structures. Cutting just half of those Eskom managers will save the utility R800m per year. writes Adriaan Basson.
The utility has a debt burden of R450bn
Hyperinflation wiped out pensions a decade ago, but this time around, savers and fund managers are getting savvier.
The provider of a common payment platform used by banks to pay out pensions is demanding to be paid in foreign currency.
Take home pay would have increased a lot more in real terms if it was not for so-called "bracket creep" due to taxation, economist Mike Schüssler tells Fin24.
Real take-home pay increased between June and July, according to the latest BankservAfrica Take-home Pay Index.
South Africans' take-home pay has increased above inflation, while privately banked pensions increased by 5%, according to the BankservAfrica Take-Home Pay Index.
Consumers who reduce their savings by as little as R100 per month due to the impact of the 1 percentage point VAT increase, are effectively robbing themselves, says an expert.
Disposable salaries have beaten inflation since March, a sign that SA consumers are slowly recovering, shows the latest BankservAfrica Disposable Salary Index.
Cape TownTumaini ConsultingR540 000.00 - R800 000.00 Per Year
Cape TownProfessional Career ServicesR10 000.00 - R12 000.00 Per Month
Cape TownMass Staffing ProjectsR400 000.00 - R600 000.00 Per Year
Apartments / Flats
R 1 750 000
R 3 300 000
R 5 750 000
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