Alex Forbes snags Sanlam exec as new CEO

Alexander Forbes has appointed Dawie de Villiers as its new CEO, less than a week after announcing the the termination of former CEO Andrew Darfoor’s contract.

He will assume the position of group CEO and as a director of the company from November 1, 2018 as well as director of a number of the company’s subsidiary boards, it said in a Sens announcement.

Proceed to Source : MoneyWeb

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Can pension fund money do more?

South Africa has a pension fund pool of around R4 trillion. This is a significant collection of assets.

However, speaking at the Alexander Forbes Hot Topics Summit in Cape Town last week, the head of the Alexander Forbes Research Institute, Anne Cabot-Alletzhauser questioned whether this money is currently being used in the most optimal way.

“Our savings are the biggest potential driver of economic growth,” said Cabot-Alletzhauser. “How can you take that power and transform it into something even more significant?”

Currently, pension funds are invested predominantly in listed markets. There are two well-accepted reasons for this.

Proceed to Source : MoneyWeb 

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Most of us are one incident away from poverty

What if employers and the financial services industry could help?

South Africans are notoriously bad savers. Our household savings ratio has been negative for most of the past 10 years, meaning that we are borrowing more than we put away.

This is a significant problem for the country, as our gross domestic savings rate is below the levels needed to support sustainable economic growth. It is also a risk to individuals and families, as most of the population has no financial safety net.

“All of our middle class, and even many in the upper class, are one unfortunate incident away from poverty,” independent actuary Rob Rusconi told the Alexander Forbes Hot Topics Summit in Cape Town on Wednesday. “In other words they are cutting it very fine. They have enormous potential to fail.”

Proceed to Source : MoneyWeb

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Technology Advancement Must Top CEO Agendas In Africa

Technology usage and forward planning for IT changes and advancements have become key focus areas for African companies to the extent that those lagging behind may as well be planning to fail, say top executives as firms and governments across the continent rope in Artificial Intelligence, internet of things, cloud computing and other technological platforms.

Further disruption is now expected across multi sectors ranging from financial services, telecom, and logistics to fashion and retail. Africa has also seen a mushrooming of various tech start-ups that are bringing further disruption and traditional companies have been urged to adapt to the emerging tech trends or risk going out of business.

Proceed to Source : africa.com

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How much cash should I take at retirement?

How much cash should I take at retirement? Although important, tax is only one of various aspects to consider.

In addition to tax, it is advisable to take debt, large purchases and future emergency requirements into consideration when determining an appropriate amount of cash to take at retirement. Picture: Shutterstock In addition to tax, it is advisable to take debt, large purchases and future emergency requirements into consideration when determining an appropriate amount of cash to take at retirement. Picture: Shutterstock
It’s a question many soon-to-be retirees grapple with – how much cash to take at retirement?

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Amcu targets R7bn pension fund at Amplats

A R7bn pension fund is at the heart of a legal challenge by the Association of Mineworkers and Construction Union (Amcu) against the world’s largest platinum miner, Anglo American Platinum (Amplats).

Not for the first time, Amcu — a relatively new union and one which has grown quickly on platinum and gold mines — has demanded the transfer of pension and provident funds established by companies in these sectors into the Igula Umbrella Provident Fund, which it set up.

Proceed to Source : Business Day

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