It was previously reported that Parliament’s standing committee on Finance determined that the two-pot retirement system must be implemented on 1 March 2024. The Minister of Finance was however given 14-days to make representations regarding the implementation date. Following the Finance Minister’s representations, the standing committee decided as a compromise, to move the implementation date […]
It was previously reported that National Treasury proposed to Parliament’s standing committee on Finance that the implementation date be delayed until 1 March 2025, in order to give the retirement fund industry more time to make the administrative changes necessary to implement the system. The standing committee on Finance has however rejected National Treasury’s proposal and has insisted that the two-pot system must […]
It is with great pleasure that we announce the appointment of Mr Shagan Windvogel as Regional Manager for the Eastern Cape Region of IMATU, with effect from 1 November 2023. Shagan obtained a LLB degree as well as a Post Graduate Diploma in Labour Law with distinction from the University of the Free State. Shagan […]
National Treasury has issued a notice of its intention to table the Pension Funds Amendment Bill in Parliament’s National Assembly in November 2023. The stated purpose of the Amendment Bill is to provide for the first phase of the implementation of the two-pot retirement system. It should be noted that while the stated intention has been […]
|5.4% across the board.
|Linked Benefits and Conditions of Service
|Increases by same rate as the salary increase in each financial year.
|Increases by 5.4% to R9 531.54.
|Home Owners Allowance
|Increases by 5.4% to R1 066.41.
|Medical Aid Subsidy
|The maximum medical aid subsidy increases by 5.4% to R5 277.38.
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