Still in National Payroll Week, there is a lot happening in South Africa that affects Payroll Administrators. Cathie Webb and I talked about the issues around Retirement Reform. Both the Payroll Author’s Group (PAG) and South African Payroll Association (SAPA) have held information sessions on the topic, and Cathie has found that not everyone is aware that the 1 st March 2015 heralds a change in the way in which our retirement funds are dealt with · by our employers while we are working, · by government (department of finance) once we retire. The change is said to be because of the South African culture of not saving for retirement adequately, which is creating increasing pressure on government to care for us post-retirement. These changes were announced in 2013. While the impact may not be great on all employers, it is worth determining the impact, if...
Its just my opinion.... Sharing thoughts, experiences and insights on business issues (and a few personal ones too)