Zuma’s value revisited: As a % of tax, 189 times more than China’s Xi Jinping
South African President Jacob Zuma’s salary as a percentage of tax collected is 189 times more than Chinese leader Xi Jinping.
Employment compensation
Du Plessis: Stop lying – facts show “blacks” don’t earn less than “whites”
It’s high time we all follow Gideon Du Plessis’ example and challenge often trotted out statements that, in South Africa, “blacks” still earn less than “whites”. First, because it is racist. But more so, as the examples he cites show, because it is false.
Why Oracle’s Larry Ellison deserves his pay of $103m a year
There’s not enough gold in Fort Knox to reward those entrepreneurs who start and build companies that create wealth and provide a livelihood for others. Oracle’s founder and until last year CEO Larry Ellison, is among them.
Higher minimum wages for SA domestic workers
The decision to increase domestic workers’ annual wages, in line with the new minimum wage, ANC’s commitment to improve the lives of lowly paid workers.
Matthew Lester: Postponed retirement reform is victory for rich, not unions
Initially I was stunned when Finance Minister Nene postponed the retirement reforms due to be implemented on 1 March 2015; all because of Union pressure.
NUM signs wage deal with De Beers
Diamond producer De Beers has signed a three-year wage deal with South Africa’s National Union of Mineworkers (NUM)
Pensions Preservation 2015 – More strikes, conflict, politicking – or rationality?
Allan Greenblo was my boss at Finance Week in the early 1980s and wrote extensively then about attempts to introduce compulsory preservation of pensions. Those were heady times. Labour was starting to flex new muscles legalised through the laws enacted following the Wiehahn Commission, and it was before the UDF’s internal activism hit top gear. … Read more
The plight of the South African teacher and government pension plans
By Matthew Lester Perhaps the most hapless lot in the new RSA are the teachers employed by the department of education. Most are just longing for the day that they can retire or just quit and start something else. But there is a problem – teachers have a lousy track record at doing anything but … Read more
SA state pension fund: Abil “almost like a bottomless pit”
JOHANNESBURG (Reuters) –Â South Africa’s state pension fund said on Wednesday that struggling African Bank Investments was “almost like a bottomless pit” after the unsecured lender warned of a $600 million full-year loss and said it would launch its second big capital raising in about a year. “We have really been spending a lot of money … Read more
Matthew Lester: New retirement planning rules – don’t panic (with video)
By Matthew Lester There is going to be heated debate in retirement planning circles as a result of the proposed amendment to implement annuitisation requirements on provident funds with effect from 1 March 2015. Don’t panic. National Treasury has observed the vested right of provident fund members to be exempt from the new requirements. … Read more