Archive for Pension Funds

Pension Funds

January 26, 2012 / Theresa Anne / No comments



Following Your Children Overseas Will Affect Your Pension Fund After Retiring


Your children have grown and flown the coop, and have decided to settle and raise their families overseas, and you have to decide what to do with the rest of your time; do you follow your children, but what are the repercussions and how would that affect the nest egg you so carefully worked towards and put aside; all that hard-earned money for your golden years.


For example, a retirement fund cannot be transferred to a fund in New Zealand. The funds have to be released here first, with taxes paid on these funds.


 


All about Pension Funds in SA
• Only one third of a person’s retirement fund is paid out in a lump sum when an individual retires.
• The balance has to be utilised for a monthly income, or a pension.
• The third that is paid out in cash is taxed by SARS.
• If the individual has never received any retirement reimbursements, then the first R315 000 won’t be taxed.
• The balance of the paid out amount will be taxed as any other monthly income would be.
• The remainder of the money that is invested is not allowed to be transferred to a new offshore fund.
• This is not permitted by SA law.
• This is also prohibited by many SA pension funds.


 


So, if a member decides to immigrate then what steps can that person take to overcome the situation?



• The third that is paid in cash is first taxed before he can take it overseas.
• The balance will be paid out in the foreign country.
• This will form a portion of the total amount in foreign currency allowed for immigrants.
• The total amount is R4 million for single individuals.
• For families it amounts to R8 million.
• Take note that the income that is earned in SA from the rest of the investment will be paid out, without any limits, in the foreign country, but only once the amount has been taxed in SA.


 


If the pension fund member would like to resign from the pension fund prior to retirement, and if the pension fund is agreeable, the money can be transferred to another fund or a preservation fund in SA without it being taxed.


 

Everything on gold coins

October 31, 2011 / admin / No comments
 You can get gold coins in the coin stores as well as on-line. This was money that was used a whole lot in past times. You can find many good reasons as to why most people obtain the gold coins. Most people obtain them for fun while others collect the coins as some type of financial investment. Nowadays the unit to calculate gold coins is grams while in the past the coins were evaluated in ounces 
 
The people who obtain the coins should learn how these gold coins are grouped in addition to their value to make sure that when they stumbled upon a coin they are able to understand how it may benefit them. One can find various coins for example gold bullion coins and numismatic gold coins, and additionally the people who happen to be collecting them should be aware of the difference between the two. The numismatic coins are difficult to come across therefore enthusiasts ought to treasure the coins. These coins are worth a lot of cash however they are not for gold investors. The excellent investment is the bullion coins simply because they are worth a lot of money. 
 
When a person is interested in buying gold bullion, they must think about recommendations to the pureness of the coin. This can be the quantity of real gold included in one single coin. Any piece of gold bullion under 24 carats will probably be blended with a metal alloy. Eighteen-carat gold, for instance, has 750 parts pure gold and also 250 parts alloy per 1000. This will undoubtedly influence the fee of gold as well as simply how much it will be worth someday as a possible investment. 
 
Purchasing of gold certificates basically suggests that you do not possess the gold. Purchased and reserved gold is simply what is mentioned on the certificate. In contrast to gold bars, the gold coins are by far the only types of gold in which a person will definitely obtain a lot of markdown from the original price. 
 
 
 
 
 
 
 
 
 

Everything on gold coins 20111001774.7401 Everything on gold coins

Credit Card Debt Increasing

September 7, 2011 / admin / No comments


A series of shocks are working their way through the U.S. economy. Consumers are attempting credit card debt consolidation and attempting to make ends meet in an environment with stagnating wages and rising prices. This second shock is resulting in credit card debt increasing as consumers are trying to meet rising food and energy costs. They are largely using credit cards to make up the difference between their incomes and prices. This obviously puts them deeper into an already big hole, to the point where the Federal Reserve’s report of revolving credit showed an increase for two months in a row.


In May and June of 2011, revolving credit increased at an annual rate of five and 7.9 percent.


(1) This is the biggest increase since 2007. An ominous difference is in the types of goods being purchased. Durable goods and consumer goods sales have been flat or falling, while food and energy prices are rising.  In hard times, consumers focus on paying for gasoline, food and other essentials like clothing and shelter. Rising energy prices translate into rising gasoline, natural gas and heating oil prices. Food costs affect everything from grains to meat. As these costs continue to rise and incomes stay flat or even fall, consumer debt will increase to make up the difference.


Credit card debt is one of the banes of being a consumer in modern-day America. That said, it is surprising and foreboding that credit cards have to be used to obtain simple, everyday items like foodstuffs. Purchases using credit cards in June 2011 were up eight percent on a year-over-year basis, according to First Data Corporation. This is largely explained by the fact that gasoline is up over 30 percent on average on a year-over-year basis. Even worse, the larger balances that result are being carried over from month to month. Consumers are paying high interest rates, as high as 13 to 14 percent, for foodstuffs like meat and milk.


(2) Consumers are being forced by inflation to reverse their behaviors, forcing them to cease credit card debt consolidation and add to their existing debt load. Increasing credit card debt portends another consumer debt crisis down the road, with perhaps another financial crisis following soon afterwards. Inflation in this manner implies a dreaded liquidity crisis, a situation where cash is scarce and credit dries up for lack of short-term collateral.


DIFFERENCE BETWEEN READVANCE AND FURTHERADVANCE HOME LOANS

August 30, 2011 / admin / No comments

When obtaining home loans, whether through a bank or a private lending institution, it’s important to know the difference between ReAdvance loans and FurtherAdvance loans.  These are the two primary types of loans that are available and they both have similarities while having distinct differences as well.


READVANCE


The first type of loan that you have access to as a potential homeowner are ReAdvance home loans. Think of a ReAdvance loan as a way to access the equity that is built up inside your home. You are able to withdraw the remaining portion of the loan in one lump sum if the value of your home has increased over time.  However, instead of taking equity out on your home, you’re actually withdrawing the value from the loan.  You need to have a good credit history and your home needs to have value for the ReAdvancehome loans to be effective.


FURTHERADVANCE


The second types of home loans available are FurtherAdvance.  The basic method of using a FurtherAdvance loan is to increase the value of your loan while keeping the value of your home the same.  This is a great way to access some equity in your home while still keeping valid home loans out on your home.  You can use this money for a variety of things, such as home improvements, paying off other debts, or improving the general value of your property.


When you have home loans that are of the FurtherAdvance type, you are able to increase the amount of your loan while simultaneously taking out equity from the loan.  Remember that you are essentially increasing your home loans, which may result in being forced to take out additional bonds, put up more collateral, and pay off other legal fees.

DIFFERENCE BETWEEN READVANCE AND FURTHERADVANCE HOME LOANS 20110830709.0379 DIFFERENCE BETWEEN READVANCE AND FURTHERADVANCE HOME LOANS

Advantages of Shopping Around for Car Insurance Quote

August 15, 2011 / admin / No comments

Any smart or savvy consumers knows that the secret to getting low prices is by shopping around at the various competition.  The same is true for car insurance quotes.  There are many advantages associated with shopping around for various car insurance quotes.  There are many reasons why you will save money when you shop around.

The first and most obvious reason that you’ll save money is because you can get multiple quotes and compare each quote you get and choose the lowest rate.  In this manner, it is possible to choose the lowest rate and pay the lowest rate for insurance.  There are many reasons for lower prices at some insurance companies compared to others.  Some insurance companies have a lower risk tolerance and therefore will charge very high premiums for those customers that they deem as risky.  Often, small insurance companies will not have the capital they need to cover risky clients.  You will often find that larger insurance companies can give you lower rates if you’re a risky client.

The other advantage of shopping around for car insurance quotes is that you can compare discounts and ad-match specials.  Many car insurance companies have specials and discounts that go on during the year.  Because you can essentially compare quotes from all of the companies, you can also compare the discounts and specials that are going on.  Another aspect that will save you money is the fact that you can sometimes do ad-match guarantees.  If you see an insurance company that is offering a lower rate, you can sometimes offer this lower rate to another company and see if they match the rate.  They will also offer a discounted rate over this lower rate for a super lower car insurance quote.

 

The Open vs. the Closed Pension Fund

July 29, 2011 / emma / No comments

The Open vs. the Closed Pension Fund

A pension fund can be classified into the open pension funds and the closed pension funds.

An open pension fund is support by at least one pension plan that has no restrictions on membership.

A closed pension fund is one that only supports pension plans that are limited to certain employees.

Closed pension plans can be sub classified into the following:

·    Single employer pension funds
·    Multi employer pension funds
·    Related member pension funds
·    Individual pension funds

What is a Pension Fund?

July 25, 2011 / emma / No comments

What is a Pension Fund?

A pension fund is established by an employer to facilitate and organise the investment of employee’s retirement funds contributed by the employer and employees.

Pension funds are commonly run by some sort of financial intermediary for the company and its employees. However some larger corporations operate their pension funds in house, which mean the pension funds are operated by the corporation themselves.

A pension fund is a common asset pool that is meant to generate stable growth over a long term period. It will then provide pensions for employees when they reach a certain age and the end of their working years, where their retirement begins

What is a Pension Plan?

July 25, 2011 / emma / No comments

What is a Pension Plan?

A pension plan is a type of retirement plan where an employer makes contributions towards a pool of funds set aside for an employee’s future benefit.

The pool of funds is then invested on the employee’s behalf, which they will receive once the employee reaches the age of retirement.

A pension plan in many ways is where an employee transfers part of his or her current income toward a retirement income. There are two main types of pension plans.

A defined benefit plan is where the employer guarantees that the employee will receive a definite amount of benefit upon retirement. This is regardless of the performance of the underlying investment pool.

In a defined contribution plan the employer makes predefined contributions for the employee. The final amount that the employee will receive will depend on the investment performance.

Insurance for music downloads

May 31, 2011 / Davy / No comments

Insurance for music downloads


A consumer group in England carried out a survey into insurance cover for music downloads and is urging consumers to be aware of exclusions relating to these policies.


According to the survey music downloads will not be covered by insurance if they are lost as a result of a computer virus. Many insurance firms also did not cover music downloads if they were lost as a result of hard drive failure.


As part of the survey 46 insurance firms were reviewed by the consumer group and out of these only 22 actually offered insurance cover for music and digital downloads, none of the policies offered provided protection against loss of music through virus or computer failure instead the cover is offered when the downloads are lost as the result of fire, weather conditions, or theft.

Downloading music has become a hugely popular way for younger generations in their teens, twenties, and thirties to enjoy listening to their favourite music however though, companies are determined to stay behind the times, but to stay safe, get insurance quotes today.


Insurance for music downloads 20110531373.5362 Insurance for music downloads

Sanlam investment management

May 31, 2011 / Kaminski / No comments

Sanlam investment management


Sanlam Investment Management (SIM) is one of the giants in the South African investment management industry. Credit insurance is vital in this industry.

SIM incorporates the single manager investment platform of the Sanlam group. It forms the nucleus of the Sanlam Investments cluster and has access to the comprehensive skills and capabilities that are available from the other businesses within the cluster.


SIM caters for a wide range of investment solutions, providing traditional and alternative investment management services for collective investments, life-pooled products and segregated portfolios for third party institutional and retail clients as well as the Sanlam group because it is structured as a multi-specialist boutique asset manager. 


With one of the biggest research teams in the country, Sanlam ensures maximum leverage for their specialist teams and demonstrable support for their business model and investment platform with credit insurance.

Sanlam investment management

« Older Entries  

Theme by ThemeZee.com