Divorce and Pensions
Navigating recent legislative changes. When couples divorce, the division of assets can become a complex matter, particularly where retirement savings are involved. For financial advisors, understanding how marital property regimes and legislation intersect is critical to supporting clients. Recent legal updates, effective from 1 September 2024, have aligned the definition of ‘pension interest’ across fund […]
Understanding the two-pot retirement system: Questions and answers
As of 1 September 2024, significant changes have been introduced to the retirement landscape in South Africa with the implementation of the two-pot retirement system. This system allows members of pension funds, provident funds, and related schemes to access a portion of their savings while still working. With this shift, it is essential to understand […]
Pension funds and emigration
Investing in an offshore retirement fund is one way of growing your wealth in a stable economy over the longer term, or even gaining residency in a foreign country. However, for South Africans, this scenario presents as many challenges as it does opportunities, and should only be considered after consulting with a financial advisor and […]
Employers of domestic workers must register with COIDA
Domestic workers are now covered under the amended Compensation for Occupational Injuries and Diseases Act 1993 (COIDA) (Act 130 of 1993) and can claim compensation for injuries or diseases sustained while on duty from the Compensation Fund. The deadline to register Domestic Workers is 30 June 2023. “Domestic Workers are the unsung heroines in this […]
RFS Umbrella Pension & Provident Funds Annual Newsletter
MESSAGE FROM THE BOARDS OF RFS UMBRELLA PENSION AND PROVIDENT FUND TO THE PARTICIPANTS IN AND MEMBERS OF THE FUNDS We have communicated to you earlier this year regarding the following: The sponsor of the funds. Your Board of Trustees including their duties and powers. Introduction to the trustees. The duties and role of your […]