IOL Podcasts

Last week National Treasury announced that it was postponing the the implementation of the proposed two-pot pension fund system by a year, following public consultations in September regarding the proposed system. Initiation is now set for 1 March 2025.

It makes sense as the final legislation has yet to be issued, and parliamentary approval is still required before the industry will have total certainty of what it all entails. And industry players who Personal Finance spoke with on this very podcast in the past, have said that there was no way they would be ready for implementation by March next year.  

There is an extensive legislative process which still needs to unfold. The revised Revenue Laws Amendment Bill and amendments to the Pension Funds Act were only issued in June this year and pension fund players are still awaiting a final response document from Treasury before it can further clarify matters raised as part of industry submissions and through the parliamentary process. 

Final legislation may only be available in early 2024, and much more engagement between industry and the Treasury, the Financial Sector Conduct Authority (FSCA), and the South African Revenue Service (SARS) are still required bodies throughout the process.

There is very little which is not taxed in South Africa, from sales to sins, even savings. 

As a matter of fact, the South African tax system is structured in such a way that it actually punishes investments and income generation. The more wealth you create, the more taxes you have to pay.

Incentives are also few and far between, are not being adjusted for inflation, and benefits are stingy at best. The downgraded medical aid contribution and scrapped income protection deductions are a case in point. 

In fact, policymakers have become pretty hostile towards capital creation by subjecting it to a range of taxes, intermediary costs and regulatory charges. And the numbers show it. South Africa's Household Saving Ratio is at an all-time low of -0.5%. So on average South African residents save less than nothing. That is an alarming rate.

It is for that reason, that we invited Ettiene Retief to be our guest today, because it is clear to me that individual investors might not be aware of what taxes are payable when you buy into or sell out of an investment. 

Ettiene is a Tax Specialist, with more than 23 years’ experience in anything that goes with it.  He is also the chairman of the National Tax and SARS Stakeholder Committee of the South African Institute of Professional Accountants (or SAIPA for short) and Centre of Tax Excellence. So he is well-placed to provide clear and practical insights for our listeners on how individual investors can make smart tax-informed decisions for their investment portfolios

At last week’s South African Institute of Taxation Tax Indaba, trusts were on the agenda again. And the South African Revenue Service (Sars) new measures of ensuring trusts are run as separate entities (such as companies) on a real-time basis and not on an ad hoc basis in an attempt to prove compliance, was very much part of the conversation.

Phia van der Spuy, our regular Trust-to-Trust columnist in Business Report, and the monthly Trustworthy opinion piece writer for our Saturday feature in Independent on a Saturday, Weekend Argus and Saturday Star, is our guest today. She led a panel on this very topic at the Indaba and she is going help us layman get into the nitty gritty of this important part of trusts play in financial and estate planning and the huge element of tax that goes with it. 

Phia is a chartered accountant with a Master’s degree in tax and a registered fiduciary practitioner as well as, a chartered tax adviser and a trust and estate practitioner

It is National Wills Week, the annual national awareness campaign championed by the law society, that looks into one very important part of estate planning - having a will. 

By making a will you ensure that your assets are disposed of in accordance with your wishes after your death. This privilege is called “freedom of testation”.

But today I want to explore some of the more technical aspects of not having a valid will when you die. 

If you die without leaving a valid will, your assets will be distributed according to the provisions of the Intestate Succession Act. The provisions of this Act are generally fair and ensure that your possessions are transferred to your spouse and children, and where applicable, to siblings, parents, and if required, then to the extended family in terms of degrees of relationships and those that were dependent on you for financial support.

I have Jocelyn Manda, Fiduciary Specialist at PPS as my guest today to go through some of the problems loved ones left behind face when a head of a household or breadwinner dies without a will.

I recently wrote a Rants and Cents column, on the matter stating that the process is not the be-all and end-all of becoming free of debt, as a matter of fact, it is an expensive exercise and there are a lot of chance-takers out there. I was even threatened with legal action by some of them after I reported some of their misleading and paid-for advertising on Facebook. But Wikus Olivier, the MD of CreditSmart gave me a call on the matter stating that it would very very educational if you could have a conversation on why Debt Counseling is not quick-fix and help consumers understand the process before they 'get in' into it. He also said that organisations need to start taking responsibility to avoid placing people needlessly under Debt Counseling - and agreed with him.

If you’ve seen the news reports about household names in the credit industry being taken to task by the Regulator for “incorrectly selling credit insurance products, was probably the first time you heard about credit life insurance, but if you have ever purchased anything on credit, or taken out an unsecured loan, chances are, you have also bought credit insurance.

‘Credit life insurance’ is the insurance cover a consumer takes out in the event of their death, disability, terminal illness, unemployment, or another insurable risk that is likely to impair the consumer’s ability to earn an income or pay their monthly instalments under a credit agreement.

We have Avitha Nofal as my guest, and she is the senior legal advisor at the Credit Ombuds, to give Personal Finance listeners a bit more insight on credit insurance, and what the consumer's rights are in this regard.

* The Personal Finance podcast has made the shortlist for the upcoming Sanlam Financial Journalism awards in both the audio/broadcast and the consumer education categories. It is a great honour to have been nominated, and we thank all our listeners for their growing support.*

Effective financial planning is essential whether you are in your 20s or your 80s or anything in between, and it means much more than having just a retirement annuity or saving to buy your first home. 

I recently wrote in my Rants and Cents column on the rising cost of medical treatment and increasing shortfalls in health coverage, and how the proposed NHI won’t solve the problem. 

Medical expenses can easily become a burden, and while you are typically young and healthy earlier in life, accidents do happen and critical illness can be diagnosed the older you get, and in both cases, it will be more likely that you will need costly medical treatment. That is where gap cover has become a vital part of a comprehensive financial planning toolset, regardless of your life stage. 

I have Brian Harris, as my guest today, he is the General Manager of Operations at Turnberry Management Risk Solutions, which is a registered financial services provider that specialises in Accident and Health Insurance, Travel Insurance, and Funeral Cover. He will take us through the what, the why, the who, the when and the how of Gap Cover. .

The revised 2023 Draft Revenue Laws Amendment Bill was made available for public comment last week Friday. This was a significant step forward and brings much-needed clarity to several crucial grey areas, specifically concerning seeding and accessibility within the new regulatory framework of what is commonly referred to as the two-pot pension system. We have talked about this topic on this podcast extensively in the past.

Today, I have Blessing Utete, Managing Executive of Old Mutual Corporate Consultants as my guest to give us some insight on whether the updated regulations would allow the industry to be in a better position to be ready by 1 March 2024, the date government expects the retirement funds to be prepared to implement the new laws.  

The research shows that Financial strains have prompted many South Africans to stop paying their risk insurance premiums and cash in their investment policies. In fact, 1Life stats reveal that in 2022, the non-payment of premiums increased by 3% each month and up to 17% in December 2022 compared to December 2021. Furthermore, Asisa statistics show that 689-888 recurring and single premium savings policies were surrendered in 2022, in South Africa.  Our guest today is Brina Biggs, Senior Marketing Manager at 1Life Insurance, to talk us through how lapsed premiums and policy cancellations are putting South Africans at further risk in an already tough economy  

Stokvel concepts with appropriate investment models may hold the key to alleviating poverty and extending equal access to economic ownership and capital accumulation in South Africa.

Most people have been using stokvels for informal savings over the years, frequently depleting their savings around the December holidays, before spending binges during the festive season and starting over the following year. Sifiso Nkosi , Product Growth Head of FNB Cash Investments tells Personal Finance how instead of withdrawing all funds for short-term goals, experts believe that stokvels should consider diversifying their portfolios using a wide variety of investment vehicles that can yield returns that surpass inflation.

There’s an emerging trend in home financing for irregular earners, that drew my attention this week. It's called home ownership through an instalment sale agreement. And as a former full-time freelancer and current contract worker, I know how bumpy the access road to property finance and long-term secured lending can be. But as the buzzwords like remote working, shared workspaces and part-time positions, become more common, the financial and property fraternities are surely keeping up. 

I have  Renier Kriek, Managing Director at Sentinel Homes, as my guest today, who will take us through this new approach to home ownership. 

It has been a month since the Raging Bull Awards gala dinner was held at the Pigalle Restaurant in Green Point Cape Town, and as a final reflection before we start planning next year’s event, we are speaking to Melville Douglas, the boutique investment management company within the Standard Bank Group, and a major sponsor of the awards, on global investment trends and offshore investment opportunities…… as well as talk about the importance of diversification in a retail investment portfolio.  Melville Douglas was crowned the offshore manager of the year at the 2022 Raging Bull Awards. 

The awards ceremony is hosted annually by Personal Finance in partnership with PlexCrown Fund Ratings and recognises top performance in the unit trust industry, which has grown exponentially since its launch in 1997.

We have Derinia Mathura, Melville Douglas Global Equity Fund Manager and Analyst, as my guest today. Derinia has over 15 years of experience in global equities research having been on both the sell and buy-side

Personal Podcast Show with Ruan Jooste: Raging Bull Awards Special with PSG Asset Management CEO Anet Ahern.

Welcome to this special edition of the Personal Finance Podcast show with me Content Editor Ruan Jooste. Today we speak with Palesa Dube, a Certified Financial Planner and director of advisory practice Wealth Creed in Sandton, who has been crowned by the Financial Planning Institute (FPI) as its Financial Planner of the Year for 2022/23. She received her award at the FPI’s annual gala dinner at Fourways late last year.  

Welcome To  the Personal Finance’s Podcast show with Content Editor Ruan Jooste. This is your Tax Talk episode for the month of february, where we cover all things tax, returns andred tape.

Today we are joined by Jeff Miller, CEO of Grovest and the new Twelve B Green Energy Fund to discuss how South Africans can now get tax break for investing in renewable energy, with the launch of the asset managers Private equity fund, to replace the R12 billion Section 12J tax incentive currently under management.

Welcome To Personal Finance’s  Podcast show with Content Editor Ruan Jooste. Today we are speaking to Andrew Kruger - Head of Business Analysis at BetterSure Financial Consultants, how how consumers can Be better Protected When an Unforeseen Disaster Strikes

and Ensure to Insure the Full Replacement Value of Your Home

If you own a home it is crucial that you understand the various aspects involving this type of insurance since it protects your valuable asset when unexpected events happen like the 2022 floods in Kwazulu-Natal and the recent gas tanker explosion in Boksburg.

If you have homeowners insurance, or you’re in the process of applying for it, you may have come across the term ‘replacement value’. And you may be wondering what it is and why it’s important. Let’s take a closer look.

Welcome To  the Personal Finance Podcast show with me Content Editor Ruan Jooste. This is the Pension Plain episode for the month of February, where we talk retirement everything, everyone, everywhere.

Today we have Meeta Gosai, Head of Income Solutions at Momentum Corporate as my guest, to discuss  what the increase of inflation mean for members of retirement funds? And to explain that it’s essential to understand the impact of inflation on your annuity income.

Welcome To  the Personal Finance’s Podcast show with me Content Editor Ruan Jooste. It is our first show for the year and a special one at that.

Firstly, because I have my colleague and Editor Martin Hesse as my special guest today, which is the first time he has agreed to join me on our rather new podcast venture, which was launched in September last year, and secondly because we will be discussing Personal Finance’s flagship annual event the Raging Bull Awards, that will be returning to its former glory at the end of February.

Welcome To  the Personal Finance Podcast show with me Content Editor Ruan Jooste. This is our monthly financial planning episode for the month of January , and we are unpacking the differenceS between investment platforms and asset manageNT.

I have Rainier van der Nest in studio as my guest and he is A business development manager at Glacier by Sanlam.

Welcome To  the Personal Finance’s Podcast show with me Content Editor Ruan Jooste. This is our January Pension Plain episode and the first for the year, where  we cover retirement everything, everyone, and everywhere.

Last year we covered Pension Fund reform, and the tax implications thereof, and spoke to the Pension fund Adjudicator on her office’s annual report, and today we will be talking about pension funds in distress, and the two methods - curatorships and statutory management - available to the pension fund regulator -  the Financial Sector Conduct Authority or FSCA for short to get such retirement schemes back on their feet.

Welcome to the Personal Finance Podcast show, where we show that money matters. I am your host,  Content Editor Ruan Jooste and this is your monthly Pension Plain episode for December, and our last show for 2022.

Today we are joined by David Hurford, CEO of Fairheads benefit services, an independent administrator and service provider to the retirement and fiduciary industries across the country.

David is here to take us through the meaning and importance of Beneficiary funds and how they impact our everyday lives. There is also an interesting history behind it.

Welcome to the Personal Finance Podcast show, where we show that money matters. I am your Host, Content Editor Ruan Jooste and this is your monthly Financial Planning episode. Today we are joined by a special guest, Kiru Padayachee, Business manager at Glacier by Sanlam, a wealth creation and preservation

platform, and Kiru is here to help talk us through some of the investment opportunities for people in their 60’s.

The Richards Bay Industrial Development Zone (RBIDZ) is KZN's Special Economic Zone for sustainable quality investments, world-class industrial infrastructure and attracting local and foreign investors. Recently, as part of commemorating his 100 days in office and beyond, RBIDZ hosted leader of government business and MEC for Economic Development, Tourism and Environmental Affairs (EDTEA), Siboniso Duma for an oversight inspection

Welcome To  the Personal Finance Podcast show with me Content Editor Ruan Jooste. This is our monthly financial planning episode, and we are talking about Education. We all understand the value of a good education, and that we want to provide our children - or even ourselves - with the best possible skills for the future. But with the rising cost of secondary and tertiary education, which can include everything from school fees to textbooks, will keep anyone up at night. 

Today, I have Liberty financial advisor, Maxine Muller as my guest, who has been with the company since 2017, with a focus on risk and estate planning. Welcome Maxine.

In our second instalment of our four episode Tax Month series, in collaboration with the South African Institute of Tax Practitioners, or SAIT for short, we will be unpacking Research and Development Incentives - or R&D as the bean counters refer to it .

In this first episode of African Talk, host Shifaan Ryklief speaks to liberation struggle war veteran and former member of the Pan African Parliament, Pandelani Nefolovhodwe; political analyst Kim Heller and a former journalist and corporate strategist, Oupa Ngwenya. We take a closer look at media freedom in South Africa and dive into what unfolded in 1977 when certain publications were banned.

In this first episode of African Talk, host Chad Williams speaks to Clement Summerton from Operation Hunger South Africa who explains the causes of hunger in South Africa and the steps the NGO has taken to combat the crisis.

More resources are needed to support gender-based violence survivors as the Covid-19 pandemic shrunk the pool of available resources, People Opposing Women Abuse (POWA) said.

POWA is calling on survivors from across the country to #DonateYourVoice and tell their individual stories of survival, to demystify the faces and voices behind the statistics. POWA, in partnership with JOKO are once again marking the annual 16 Days of Activism for No Violence Against Women and Children by tackling the issue at its heart. Together, survivors who use their voice for change, can break the shame cycle of suffering alone and inspire a nation into action that makes a difference.

The impact of technology in the accountancy profession. - BizTech Talks, Wesley Diphoko hosted a discussion with South African Institute of Professional Accountants senior members, Faith Ngwenya - SAIPA Executive Technical & Standards and  Prof Small who heads up SAIPAs Centre of Future Excellence.

Mandela Day is upon us, and for most South Africans, that means it’s time to dedicate a day or 67 minutes to helping others.

In the fourth in a series of four podcasts on investing, in partnership with Alexander Forbes Investments, the company's head of alternative investments, David Moore, chats to Martin Hesse about this class of investments.

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