SOUTH AFRICA - Retirement fund settlement pay outs will cost the local life insurance industry up to R3bn (US$470m) with one firm, Sanlam, burdening a R600m bill.
The joint solution agreed between the National Treasury and Life Offices Association (LOA) on the minimum standards set for early termination values of retirement annuities and endowments was broad...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here
