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Liberty to return to profit, but has to put more money aside for Covid-19 deaths

Liberty to return to profit, but has to put more money aside for Covid-19 deaths
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Liberty s refresher on important regulatory updates for financial advisers and related FSPs

Liberty’s refresher on important regulatory updates for financial advisers and related FSPs 7 May 2021 The annuitisation of provident funds  Prior to T-Day, members of provident funds and provident preservation funds were entitled to take the full value of their benefits as taxable cash lump sums at retirement. Members of pension funds, pension preservation funds and retirement annuity funds on the other hand, have been required to annuitise a portion of their benefits at retirement. This means that they must take a portion of their retirement fund benefits as an annuity income at retirement. From T-Day, members of provident funds and provident preservation funds are also required to annuitise a portion of their benefits at retirement. 

The magic of compound interest - On the Money with Jarryd Neves

Overwhelmed by Covid-19 death claims, insurers plead for faster inoculation

Momentum CEO Hillie Meyer is worrid that if inoculation doesn t happen fast enough, SA will be at the risk of a 4th wave. Three of the country s big insurers - Discovery, Momentum Metropolitan Holdings, and Liberty - have published their death claims statistics. Their numbers show that the second wave was more severe among the working population. The Momentum CEO says if SA is caught napping again when the new vaccines come on stream, the country will be at risk of a fourth wave. We need to do the rollout of the vaccine faster. Plans that talk about a 12 and even an 18-month rollout won t work. We need to do 10 million inoculations per month, pleaded Momentum Metropolitan Holdings CEO after the announcement of the company s financial results on Thursday.

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