Magnus Heystek: The retirement crisis is upon us
South Africa’s looming retirement crisis: Shattered dreams, financial squeeze, and urgent calls for action ahead.
South Africa’s looming retirement crisis: Shattered dreams, financial squeeze, and urgent calls for action ahead.
David Bacher provides the February Corion Report – unpacking the paddling of resource shares and warns the worst may not yet be over.
The decision by regulators to allow retirement funds to take up to 45% of their funds offshore, up from 30%, brings a wave of change.
Following the budget speech in February, the South African Reserve Bank significantly amended the offshore allocation limits for Retirement Funds.
“The focus of our retirement reforms is not on withdrawals, [but] getting SA’s to save more,” said Treasury’s Ismail Momoniat.
Now, the government needs another way to determine whether a person has emigrated before they’re granted access to their retirement funds.
Magnus Heystek has been called “Dr Doom” for consistently warning investors about the JSE’s underperformance. Lately his critics have gone quiet.
Alec Hogg shares his thoughts on the breakthough regulation on retirement funds, a sign that ‘intelligent governance’ is returning to SA.
Research from Henry and Partners showed that there was a 48% increase in emigration enquiries from South Africans in Q1 and Q2 of 2020.
Clive Eggers says concerns about the ANC’s plans to harness private retirement fund savings to prop up troubled state entities are, at this stage, a case of much ado about nothing.