Alexforbes models two pot’s impact on outflows
Alexforbes models two pot’s impact on outflows

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Moonstone Monitor | 13 June 2024
IN THIS WEEK'S ISSUE
Top stories
• SCA overturns precedent-setting cyber-crime judgment
• Two pots: Alexforbes predicts R50bn asset outflow in the first year
• No savings pot withdrawal in September if your balance is less than R2 000
In the news
• Boost your financial planning career with MBSE’s triple-accredited postgraduate diploma
• Sanlam flags increase in sickness and disability claims among younger policyholders
• Alexforbes reports 16% asset surge, announces special dividend
• FSCA investigating Finbok trading platform after complaints about refunds
• Here’s how much SA institutions’ offshore allocations have grown
• High Court dismisses five-year battle over faulty car due to procedural missteps
• SARB sanctions global bank for FICA non-compliance
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GTC banner 2023-10-02
Two-pots is here (and in reality, this will be four pots), as opposed to the existing one-pot. How is it looking in your kitchen?

Fund members will require sophisticated fund administration accommodating the numerous alternative elective pre-retirement withdrawals of the Two-pots retirement system. They will also require additional - professional - counselling regarding the impact of premature pre-retirement withdrawal. Are you and your funds ready for this legislation?

Book a presentation with our CEO Gary Mockler to see how GTC can assist 13B administrators and benefit consultants with the relevant business processes associated with Two-pot.

Visit our website at www.gtc.co.za.
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TOP STORIES
SCA overturns precedent-setting cyber-crime judgment
The High Court’s judgment opened the door to unlimited claims against businesses whose clients suffered losses because of email interception.
Top story read button
Two pots: Alexforbes predicts R50bn asset outflow in the first year
The impact on capital markets should be minimal considering that most funds hold considerably more than 1% in cash, says Dawie de Villiers.
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No savings pot withdrawal in September if your balance is less than R2 000
The Actuarial Society of South Africa urges retirement fund members to check their benefit statement to see whether they will qualify for a withdrawal.
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IN THE NEWS
Boost your financial planning career with MBSE’s triple-accredited postgraduate diploma
Enrolments are open until 1 July for the Postgraduate Diploma in Financial Planning, a qualification designed to elevate careers in holistic financial planning.
Itn read button
Sanlam flags increase in sickness and disability claims among younger policyholders
The group’s 2023 claim statistics also note the steady increase in pay-outs arising from pregnancy complications.
Top story read button
Alexforbes reports 16% asset surge, announces special dividend
Alexforbes is focusing on individual consulting as its main growth area, with in-fund asset flows of R3.5 billion for the year.
In the news 3 read button
FSCA investigating Finbok trading platform after complaints about refunds
The Authority emphasises that the investigation is not complete, and it has made no findings to date.
In the news 4 read button
Here’s how much SA institutions’ offshore allocations have grown
The SA Reserve Bank is concerned about the liquidity of the country’s financial markets and institutional investors’ exposure to government bonds.
In the news 5 read button
High Court dismisses five-year battle over faulty car due to procedural missteps
An aggrieved purchaser must exhaust the dispute resolution mechanisms outlined in the Consumer Protection Act before approaching the courts.
In the news 6 story read button
SARB sanctions global bank for FICA non-compliance
The sanctions follow an inspection of the Bank of China’s Johannesburg branch three years ago.
In the news 7 read button
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Career opportunities
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CAREERS PLATFORM - INDUSTRY POSITIONS
 
• Broker Support Administrator: Intellisure Insurance Brokers, Town. This will be the opportunity of a lifetime for the successful candidate who complies with the recommended requirements. A minimum of 10 years recent experience as a short-term insurance broker in a small office with the ability to multi-task.
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• Senior Claims Position: Cooke Fuller Insurance Brokers (Pty) Ltd, Kloof, KZN. The ideal candidate should be an experienced, assertive individual with strong administration abilities and good interpersonal skills. We require at least 10 years’ experience in Commercial and Personal claims as well as a FAIS qualification in both lines.
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• For career opportunities currently available at Moonstone please click the button below.
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IN LIGHTER WYN
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