SAA staff exit payouts have begun. Employment and Labour minister Thulas Nxesi announced on 8 February 2021, that the national minimum wage for domestic workers would increase from R15.57 to R19.09 from Monday 1 March. This is the practice of resigning from your post to access your pension fund. This includes employees of all national and provincial government departments, as well as employees in the offices of the provincial premiers, the Public Service Commission, Provincial Service Commissions and the office of the Auditor-General. Their employer also contributes by paying a certain amount every month. Stock photo. On 1 March 2021 the Taxation Laws Amendment Bill of 2020 came into effect. A retirement survey by Sanlam found that 51% of retirees cannot make ends meet, and one-third do not have enough money to cover... Have you heard of the term Sdudla? Tel: +27 80 011 7669 Fax: +27 12 326 2507 How does a balloon payment work? Many retirees have not saved enough to meet their financial needs, leaving children with the... Have you heard of the term Sdudla? The municipality says it is currently three million litres a day short for bulk water supply. During lockdown, many people looked into their finance agreements, which resulted in a lot of queries about what happens when you pay an... How does a balloon payment work? Brandon Kochkodin and Erik Schatzker, Bloomberg / 7 Mar 2021 By loaning out securities for a small fee plus interest, shareholders can generate extra income that boosts returns. GEPF Administration Office Building 2A, Trevenna Campus Corner Meintjies and Francis Baard Street Sunnyside, Pretoria. A retirement survey by Sanlam found that 51% of retirees cannot make ends meet, and one-third do not have... Have you heard of the term Sdudla? I recently came across it in relation to members of the GEPF, specifically members who are teachers and nurses. Buying a car can make or break you financially. In this podcast Maya (@mayaonmoney) speaks to David O’Brien of debt counselling firm Meerkat to explain how debt counselling works and how to choose a good debt... Advance payments on car finance do not work the same as on your home loan, so it’s worth understanding how to make the most of it. The GEPF has a solid track record in safeguarding the value of members’ retirement wealth. According to the Fund rules, the annual pension increase paid to GEPF pensioners must be at least 75% of the average increase in consumer inflation during 1 December - 30 November of the previous year. Protecting your assets is an important part of any financial plan. In this section you will read all you need to know about buying, financing and insuring your car. Many retirees have not saved enough to meet their financial needs, leaving children with the burden of supporting their retired parents. The aim of Maya on Money is to help you with those day-to-day money decisions related to South African finance matters. Members of GEPF qualify for benefits on retirement and also on resignation or discharge. As teachers and nurses can work as... For many people COVID has had a major financial impact and some may be considering entering debt review. This site is a collection of articles written by finance journalist Maya Fisher-French as well as other contributors. All GEPF benefits are defined in the. Where pensions fall behind inflation, GEPF also pay catch-up pension increases. As teachers and nurses... For many people COVID has had a major financial impact and some may be considering entering debt review. In 2015 National Treasury introduced the tax-free savings account (TFSA) to reignite a savings culture among South Africans. The GEPF has a solid track record in safeguarding the value of members’ retirement wealth. The Government Employees Pension Fund (GEPF) is Africa’s largest pension fund. Articles cover all those areas that you need in order to manage your money effectively such as budgeting, saving, investing, banking and insurance. How do we... You could save hundreds of thousands of rands in tax, according to Sanlam Investments. So you’ve finally found your dream home and are ready to put in an offer. From what to include in your will to how your marriage contract affects your debts and your estate, this section covers the legal aspect of your estate so that you can plan effectively for life’s major events. Tel: +27 80 011 7669 Fax: +27 12 326 2507 These changes are part of a process to simplify the retirement fund industry and bring provident funds in line... Why is it so hard to stick to our New Year resolutions? 16 February 2021 - 13:13 . I recently came across it in relation to members of the GEPF, specifically members who are teachers and nurses.