Entries by Remuneration Consultants

Further Update On Retirement Reform

Further to our update on 22 November 2015 on Mentje Larney’s presentation on behalf of SARA to the Finance Committee on Retirement Reform, it should be noted that the Parliament has voted in favour of implementing the annuitisation of provident funds effective 1 March 2016. This means that all the retirement fund changes promulgated in […]

Minimum Wage Deliberations Deadlock

Deliberations around minimum wage in Nedlac which was expected to end next month has resulted in deadlock. Concerns have been raised to whether the deadline around minimum wage will be achievable with a differing views on minimum wage. Nedlac wants a minimum wage of R5000 where employers want minimum wage to be aligned to the […]

Update on Retirement Reform

Mentje Larney presented to Parliament’s Standing Committee on Finance, on Tuesday the 2nd of November 2015, dealing with pension fund reforms. The presentation was of the South African Reward Association (SARA) and was in response to the Committee’s call for public comment on the Minister’s proposal to amend the Taxation Laws Amendment Bill (TLAB) that […]

Africorp Solutions Presents at IPM – 2015 – Designing Reward and Benefit Systems for the Future

The IPM Convention, is a 3-day convention which delivers the latest thinking and solutions in the management and development of people. Hosted at Sun City, North West Province, all Human Resources Professionals, business leaders, suppliers and key influencers come together from private and public sectors to explore topical issues and to seek solutions to business […]

Do you have unclaimed pension benefits?

Estimated R20bn owed to roughly 3.5m beneficiaries.  JOHANNESBURG – The total value of unclaimed retirement benefits has steadily risen over the last few years and is estimated to have reached around R20 billion owed to roughly 3.5 million beneficiaries by 2014. This is according to the latest Annual Report of the Registrar of Pension Funds. […]

Code of Good Practice (Code) on Equal Pay/Remuneration for Work of Equal Value – Government Gazette Vol 600 Pretoria 1 June 2015 No 38837

On the 1st of June 2015. in terms of Section 54(1) of the Employment Equity Act (EEA), 1998 (Act No 55 of 1998 as amended) the Minister of Labour issued the Code of Good Practice (Code) on Equal Pay/Remuneration for Work of Equal Value. The Code promotes the elimination of unfair discrimination in respect of […]

Newly promulgated Employment Equity Amendment Act

The Act now expressly introduces these principles of equality in section 6 of the EEA by adding sub-section 4, which states that it is also unfair for an employer to differentiate between employees’ remuneration on one or more of the grounds of discrimination where those employees provide work of the same or ‘substantially the same’ […]

Using the Gautrain vs Driving – which is cheaper?

Two case studies – see what comes out tops. After the recent drop in the petrol price and with further decreases expected, commutors may ask themselves how using the Gautrain compares with the costs of self-driving. Spokesperson Barbara Jensen said Gautrain tariffs are based on the financial model of the project, which is based on […]