COSATU disappointed that some pension funds chose to exploit two-pot system by charging unnecessary fees for withdrawals

Loading player...
GUEST – Matthew Parks - COSATU's parliamentary coordinator,
The Congress of South African Trade Unions (COSATU) said it was disappointing that some pension funds had chosen to exploit the two-pot pension system by imposing unnecessary fees on members.
Since coming into effect earlier this year, the South African Revenue Service (SARS) has received 2.2 million applications for withdrawals worth billions of rands.
25 Nov 2024 12PM English South Africa Business News · Investing

Other recent episodes

In conversation with Irshaad Kathrada, CEO of the Localisation Support Fund (LSF)

South Africa’s manufacturing sector sits at a critical crossroads, facing global competition, volatile energy supply, and the urgent need for industrial reform. But there is also a massive opportunity: to localise more production, rebuild value chains, and scale industries that can power jobs and growth. On this edition of Pivot…
27 Nov 3PM 35 min

National Treasury proposes 20% national tax on online gambling revenue.

GUEST: Mpho Legote, Director for VAT & Subnational Tax, National Treasury South Africa’s online gambling boom has exploded and so have the risks. National Treasury has proposed a new 20% national tax on online gambling revenue, on top of existing provincial levies pushing the total burden to as high as…
27 Nov 3PM 13 min

Using Tech to Outsmart Black Friday Scams.

GUEST: Maya Fisher-French, Financial Consumer Journalist Black Friday promises big bargains but not every “deal” is what it seems. This week on Kaya Biz, renowned consumer finance journalist Maya Fisher-French joins us to unpack the tricks behind the discount frenzy and how South Africans can use technology to make smarter…
27 Nov 3PM 13 min

SA’s Bold Plan to Vaccinate Every Cow

Guest: Thabile Nkunjana, Senior Agricultural Economist, National Agricultural Marketing Council South Africa has just announced one of the most ambitious animal-health interventions in its history, vaccinating every single cow in the country against Foot and Mouth Disease. With a national cattle herd of 7.2 million, this is no small feat…
27 Nov 3PM 16 min

How FNB is Strengthening South Africa’s Agricultural Future.

Guest: Paul Makube – Senior Agricultural Economist, FNB Agriculture is more than an industry, it’s the backbone of South Africa’s food security and rural livelihoods. And as the sector undergoes a major transformation, financial institutions are playing a crucial role in shaping what the future looks like. FNB’s Senior Agricultural…
27 Nov 3PM 12 min