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Daily news update: Cyril enacts Pension Funds Amendment Bill | Mantashe: EFF, MK and DA hostile towards ANC | Simbane hits peak
President Cyril Ramaphosa has officially enacted the Pension Funds Amendment Bill, which updates pension laws to facilitate the new two-pot...
Photo: iStock/The Citizen/Cheryl Kahla
President Cyril Ramaphosa has officially enacted the Pension Funds Amendment Bill, which updates pension laws to facilitate the new two-pot retirement system.
In other news, Gwede Mantashe, the ANC national chairperson, has compared the MK Party and the Economic Freedom Fighters (EFF) to the Democratic Alliance (DA), suggesting they share similar levels of antagonism towards the ANC.
On the sports front, sprinter Akani Simbine is in peak form, expressing confidence as he prepares for the men’s 100m event at the upcoming Olympic Games in Paris, just two weeks away.
News update: 21 July 2024
Ramaphosa signs Pension Funds Amendment Bill into law to implement two-pot retirement system
President Cyril Ramaphosa has signed the Pension Funds Amendment Bill into law.
The bill amends pension-related legislation to enable the implementation of the recently legislated two-pot retirement system.
The new Pension Funds Amendment Act amends the Pension Funds Act of 1956, the Post and Telecommunications-Related Matters Act of 1958, the Transnet Pension Fund Act of 1990 and the Government Employees Pension Law of 1996.
13 Gauteng NPOs under investigation, six shut down for being ‘unfeasible’
Gauteng MEC for Finance and Economic Development, Lebogang Maile, has revealed that the provincial government is investigating 13 non-profit organisations (NPOs) due to non-compliance issues.
NPOs were left in limbo amid social development department budget cuts and changes in the procedures for approving funding.
Maile and Social Development MEC Faith Mazibuko updated the country on the progress of NGO payments on Sunday.
Maile announced that Gauteng had reinstated nine NPO budgets to the 2023/24 adjustment budget of R2.1 billion.
‘Race not a factor’ – Mantashe disputes claims EFF and MK party ‘more suitable’ GNU partners
African National Congress (ANC) national chairperson Gwede Mantashe claims that the MK Party and the Economic Freedom Fighters (EFF) are no different from the Democratic Alliance (DA) in terms of their hostility towards the ANC.
Mantashe was defending the ANC’s inclusion of the DA in the government of national unity (GNU).
EFF deputy president Floyd Shivambu, in response to President Cyril Ramaphosa’s address at the Cape Town City Hall on Friday, said his party rejected the GNU because of the DA’s inclusion.
How the two-pot retirement system works when South Africans resign
The two-pot system will bring huge changes to how South African retirement funds operate. the changes also include what happens when one resigns.
The system allows South Africans to access a portion of their retirement funds, while also ensuring long-term financial security.
Professor Elda du Toit, Professor of Financial Management at the University of Pretoria, says although it is called the “two-pot system”, it is actually a “three-pot” system.
WATCH: Andre Esterhuizen tackle — legal and fair or dangerous head contact?
Could he have gone lower? Yes. Was it a high and dangerous tackle worthy of a red card? According to the TMO and referee who handled the match between the Springboks and Portugal in Bloemfontein on Saturday, the answer is yes.
Bok centre Andre Esterhuizen’s tackle on Portuguese midfielder Jose Lima in the first two minutes of the Test has become the biggest talking point and issue of the one-off, historic Test between the nations.
Simbine gives himself ‘huge’ confidence boost as he targets Olympic medals
Hitting his peak with perfect timing, sprinter Akani Simbine says he’s “feeling good” just two weeks out from the men’s 100m event at the Olympic Games in Paris.
Simbine finished second against a strong field in the short dash at the Diamond League meeting in London on Saturday, setting a season’s best of 9.86 seconds – just 0.02 outside his own national record (9.84).
Shannen Doherty announced a new project days before her death
The deseased actress Shannen Doherty’s rebellious image was often amplified by media coverage, portraying her as a “bad girl” of Hollywood. Despite this, she has maintained a loyal fan base and continued to work in the entertainment industry, including appearances on reality TV and directing projects.
Doherty shared her excitement about a new project during the final episode of her podcast, Let’s be Clear with Shannen Doherty, released just days before her passing at age 53.
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