In response to the many media queries, National Treasury wishes to provide more details on
the approach and planned timelines concerning the proposal to allow for greater preservation
with limited pre-retirement withdrawals from retirement funds.
Minister statement on NSFAS 2021 application process SABC News
Statement by the Minister of Higher Education, Science
and Innovation, Dr Blade Nzimande, on the occasion of the
NSFAS 2022 applications official opening held at the GCIS
Tshedimosetso House, Pretoria
This is a course outline that I prepared for teaching at the University of Nairobi. Content is built around discussion the meaning and types of pensions available, their regulatory framework, examining pension issues as part of human right and employment laws.
Minister statement on NSFAS 2021 application process SABC News
Statement by the Minister of Higher Education, Science
and Innovation, Dr Blade Nzimande, on the occasion of the
NSFAS 2022 applications official opening held at the GCIS
Tshedimosetso House, Pretoria
This is a course outline that I prepared for teaching at the University of Nairobi. Content is built around discussion the meaning and types of pensions available, their regulatory framework, examining pension issues as part of human right and employment laws.
Helen Kelly and Eoin Kealy provide an analysis on State Aid in Ireland in a Q&A format which outlines the authorities responsible, procedural rules and EC enforcement.
"The Government is keen to have sustainable long term investment driven growth rather than a short term consumption driven growth." Here's our take on the Union Budget 2019 - 20.
Helen Kelly and Eoin Kealy provide an analysis on State Aid in Ireland in a Q&A format which outlines the authorities responsible, procedural rules and EC enforcement.
"The Government is keen to have sustainable long term investment driven growth rather than a short term consumption driven growth." Here's our take on the Union Budget 2019 - 20.
How will retirement reform impact your retirement fund by Olano Makhubela10X Investments
Chief Director, Financial Investments and Savings, National Treasury presented at the 10X Retirement Conference 2014 on the topic How will retirement reform impact your retirement fund.
Pensions Act 2014: all you need to knowIus Laboris
Georgina Jones from our UK member Sackers has written this in-depth article on the Pensions Act 2014 in the August edition of PMI Technical News.
Though somewhat overshadowed by this year’s attention-grabbing Budget, the Pensions Act 2014 is a key piece of legislation. Not only does it introduce a new type of state pension and, as a consequence, sweep away contracting-out on a defined benefit basis, but it also contains several important measures for occupational pension schemes.
Charles Blahous Presentation for Mercatus Center SSDI Panel Mercatus Center
The Social Security Disability Insurance (DI) trust fund’s projected 2016 depletion will require Congress to act soon to prevent large, sudden benefit cuts.
Experts on both sides of the aisle have noted that a “quick fix” of simply shifting payroll taxes from Social Security’s much larger retirement trust fund (OASI) into DI, without further reform, could cost Congress its last chance to solve Social Security’s broader financing problems before it is too late. What more responsible reform options are available?
The Mercatus Center and the Committee for a Responsible Federal Budget hosted a discussion on May 12 on how best to respond to SSDI’s financing crisis.
Employers Healthcare Reform Overview and TimelineThe comprehensive nature of this recently passed reform includes benefit re-design, increased administrative compliance costs, eligibility rule restructuring, increased taxes and health insurance exchange management. Employers need to streamline their operations to meet ...compliance requirements set by the legislation and their employer\’s workforce size.
This year’s guide has a particular focus on the United Kingdom, and featured topics include automatic enrolment, pension flexibility and the rise of defined contribution pensions.
Ministry of Justice Extradition Eswatini 3.pdfSABC News
The Ministry of Justice and Correctional Services has confirmed that an extradition application for the two men linked to the murder of Kiernan 'AKA' Forbes and Tebello 'Tibz' Motsoane has been approved and sent to the Director of Public Prosecutions in eSwatini.
January’s Producer Price Index increases to 4.7%SABC News
Statistics South Africa (Stats SA) has released the Producer Price Index (PPI) for January, which rose to 4.7% year-on-year, compared with 4% in December.
MEC MAJUBA SADDENED BY THE PASSING AWAY OF THREE TEACHERS FOLLOWING A CAR ACC...SABC News
The Mpumalanga Department of Education has learnt with shock and sadness about an accident which claimed the lives of three teachers along the N4 road towards Mbombela.
Minister Gordhan Announces New Transnet Board Appointments_11 July 2023.pdfSABC News
The nine Trasnet Non-Executive Directors and the reappointment of two will serve a three-year term. Andile Sangqu has been appointed as the new Chairperson.
REMNANTS OF FREDDY BRINGS HEAVY RAINS IN SOME PARTS OF SOUTH AFRICA WHICH MIG...SABC News
The Minister of Cooperative Governance and Traditional Affairs (CoGTA), Dr Nkosazana Dlamini Zuma has called on communities to heed the warning from the South African Weather Service (SAWS) and the disaster management teams across the country.
Letter to the Speaker re extension 14 November 2022.pdfSABC News
Parliament's spokesperson Moloto Mothapo says retried Chief Justice Sandile Ngcobo, who is chairing the panel, has written to Mapisa-Nqakula asking for an extension.
Minister of Justice and Correctional Services Ronald Lamola’s Keynote Address...SABC News
Minister of Justice and Correctional Services Ronald Lamola’s Keynote Address at the Rand Merchant Bank Investment Big Five Investment Conference, 13 September 2022
04062024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
CLICK:- https://firstindia.co.in/
#First_India_NewsPaper
01062024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
CLICK:- https://firstindia.co.in/
#First_India_NewsPaper
‘वोटर्स विल मस्ट प्रीवेल’ (मतदाताओं को जीतना होगा) अभियान द्वारा जारी हेल्पलाइन नंबर, 4 जून को सुबह 7 बजे से दोपहर 12 बजे तक मतगणना प्रक्रिया में कहीं भी किसी भी तरह के उल्लंघन की रिपोर्ट करने के लिए खुला रहेगा।
Here is Gabe Whitley's response to my defamation lawsuit for him calling me a rapist and perjurer in court documents.
You have to read it to believe it, but after you read it, you won't believe it. And I included eight examples of defamatory statements/
El Puerto de Algeciras continúa un año más como el más eficiente del continente europeo y vuelve a situarse en el “top ten” mundial, según el informe The Container Port Performance Index 2023 (CPPI), elaborado por el Banco Mundial y la consultora S&P Global.
El informe CPPI utiliza dos enfoques metodológicos diferentes para calcular la clasificación del índice: uno administrativo o técnico y otro estadístico, basado en análisis factorial (FA). Según los autores, esta dualidad pretende asegurar una clasificación que refleje con precisión el rendimiento real del puerto, a la vez que sea estadísticamente sólida. En esta edición del informe CPPI 2023, se han empleado los mismos enfoques metodológicos y se ha aplicado un método de agregación de clasificaciones para combinar los resultados de ambos enfoques y obtener una clasificación agregada.
03062024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
CLICK:- https://firstindia.co.in/
#First_India_NewsPaper
31052024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
CLICK:- https://firstindia.co.in/
#First_India_NewsPaper
An astonishing, first-of-its-kind, report by the NYT assessing damage in Ukraine. Even if the war ends tomorrow, in many places there will be nothing to go back to.
1. Enquiries: Communications Unit
Email: media@treasury.gov.za
Tel: (012) 315 5046
MEDIA STATEMENT
PROCESS AND APPROACH TO PRESERVATION AND ACCESS TO RETIREMENT
SAVINGS
In response to the many media queries, National Treasury wishes to provide more details on
the approach and planned timelines concerning the proposal to allow for greater preservation
with limited pre-retirement withdrawals from retirement funds.
Even before the advent of COVID-19, the government recognised that many members may
need to access part of their savings in particular unexpected circumstances. It is for this reason
that the Minister of Finance noted in the 2020 Medium Term Budget Policy Statement
(MTBPS) and 2021 Budget that consideration is being given to allow limited pre‐retirement
withdrawals from retirement funds under certain conditions, provided that this is accompanied
by mandatory preservation upon resignation from a job. The government has been engaging
with trade unions, retirement funds, regulators and other stakeholders to discuss how to
increase savings and improve preservation and allow limited withdrawals, without creating
liquidity and investment risks.
Any consideration for early access will require legislative and fund-rule amendments because
the current law and policy prohibits any pre-retirement access to retirement savings unless an
employee resigns or is retrenched. It is expected that the earliest that any changes would
become effective for a new withdrawal mechanism is 2022. However, the withdrawal process
will not cover the Government Employees Pension Fund (GEPF), as it is not regulated under
the Pension Fund Act, and hence no COVID-related withdrawals will be allowed.
Retirement funds are primarily designed to encourage individuals to save while working to
finance consumption later during retirement. The government provides generous tax
deductions and benefits to encourage all working people to save and preserve more for their
retirement. Redesigning the retirement system to allow for limited withdrawals with mandatory
preservation is complex and requires thorough consultations. Government has been working
on a more structured two-bucket system that will enable the restructuring of future
contributions. One bucket is to be preserved until retirement, and the second bucket will allow
2. Enquiries: Communications Unit
Email: media@treasury.gov.za
Tel: (012) 315 5046
for pre-retirement access during emergencies or extra-ordinary circumstances. Whilst these
measures cover pension and provident funds, a harmonised approach on withdrawals is also
being considered for retirement annuities.
Implementing any new system allowing limited withdrawals with preservation will take time
because in addition to prior consultation, legislative and fund rule amendments have to be
done and fund administrators will also have to change their systems. Design work and
consultation are ongoing, further announcements and the public release of the proposed
measures for public comment and consideration will be made shortly, before or at the 2021
MTBPS. It is envisaged that the necessary legislative amendments will be introduced in
Parliament thereafter.
Members of retirement funds are advised NOT to contact their retirement funds to withdraw
funds (unless retiring, resigning or retrenched), as these retirement funds are legally not
empowered to allow pre-retirement withdrawals until the law is enacted. It is expected that any
changes to the law would only become effective next year at the earliest, and some of the
medium-term provisions may take even longer to take effect. The government remains
committed to encouraging South Africans to save more, both for their retirement and for
shorter periods before retirement.
Issued by National Treasury
Date: 11 August 2021
Enquiries: Media@treasury.gov.za