www.persfin.co.za

Regulation 28 of the Pension Funds Act, which limits how your retirement savings may be invested, is to be amended. The private sector was looking for an easing of restraints, but this is not going to happen, judging by government's reaction.

If you missed the November 26 deadline |to file your income tax return, you |should still push ahead with completing it as soon as you can, Johan Swart, a tax manager at Legal & Tax Services, says.

The Pension Funds Adjudicator has upheld one complaint and dismissed another where members had complained about being quoted fund values and subsequently being paid a different amount.

An organisation representing medical schemes this week applied to court for an order giving clarity on what schemes have to pay for the prescribed minimum benefits (PMBs) that they are obliged to provide to you.

There are winners and losers in just about every situation, and seldom more so where interest rates are involved.

The African National Congress's proposals for a National Health Insurance (NHI) scheme for South Africa do not address the main problems with the country's healthcare system, which are a lack of accountability and poor governance, a healthcare economist says.

The National Credit Regulator (NCR) will deal firmly with unethical debt counsellors whose practices put you at risk of legal action by your creditors.

Research shows that expensive unit trust funds have, over recent years, generally performed worse than cheaper ones.

People often respond to research sponsored or undertaken by the life assurance industry that shows how under-assured most South Africans are by saying that this is just another sales ploy by the life industry and that the situation is not as dire as is made out.

The statistics are scary: about 160 000 income earners are expected to die next year and about 52 000 will be disabled and unable to provide for their families. The average South African breadwinner is heavily under-assured for either eventuality.

There are some risks you can't afford to take

Everyone needs assurance against death and disability.

South Africa's open and restricted schemes are struggling to break even on about two-thirds of the product options they offer and are relying on cross-subsidisation.

Retirement fund trustees should pursue a civil action, which could include an interdict freezing directors' bank accounts, when companies fail to pay fund contributions over for their employees, the Institute of Retirement Funds (IRF) says.

Taxpayers whose total earnings exceed the tax threshold but who have not been paying the tax they should because they are taxed only under the Standard Income Tax on Employees (SITE) system will, in the tax year that begins in March next year, pay one-third of the difference between the tax they should pay and the tax they would have paid if the SITE system had been continued.

If you are an employee whose group life cover is provided by an employer-owned assurance policy - as opposed to retirement fund group life cover - you may be liable for tax on the premiums.

If you are an employee whose group life cover is provided by an employer-owned assurance policy - as opposed to retirement fund group life cover - you may be liable for tax on the premiums.

A new requirement has been introduced if you want to transfer a residential property held in a company or a trust into your own name without incurring tax.

The Voluntary Disclosure Programme (VDP) for people who have contravened the exchange control regulations or who have failed to declare their taxable income opened this week and will run until October 31 next year.

Charles Pillai, actor, playwright, lawyer of great stature, the Pension Funds Adjudicator (PFA) and former financial advice ombud, passed away at the weekend after a brief illness. |He was aged 57.

A new requirement has been introduced if you want to transfer a residential property held in a company or a trust into your own name without incurring tax.