Institute of People Management Convention and Exhibition

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The Institute of People Management (IPM) Convention held their 59th annual Convention, 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 challenges.

The focus of this year’s Convention was “HR Delivering innovation and excellence: The next 70 years of ...

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Update on Retirement Reform

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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 was tabled on 27 October 2015. The proposal from the Minister included the annuitisation requirement for provident funds effective 1 March 2016. However, it should ...

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

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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 challenges.

As part of this wonderful event, Africorp Solutions and Advisory in its first year in participating at the convention, presented on remuneration planning and structuring, ...

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Rand Hits its Weakest Level on Record

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Concern about Chinese growth lifts gold
Oil hit fresh six-and-a-half-year lows
Bonds mixed as local September rate hike becomes more likely

THE rand plunged to a record low against the US dollar on Monday, recording its biggest daily loss in 19 months as rising concern about waning growth in China hit commodity currencies.

The rand briefly dropped to R14 against the dollar, its weakest level on record according to ...

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Inflation Accelerates to 5%, In Line with Forecasts

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The current interest-rate tightening cycle will be ‘moderate,’ Kganyago said.

South Africa’s inflation accelerated to 5%, keeping pressure on the central bank to maintain its gradual path of monetary policy tightening.

The inflation rate rose from 4.7% in June, the Pretoria-based statistics office said on its website on Wednesday. The median estimate of 25 economists surveyed by Bloomberg was 5%. Prices gained 1% in the month.

The central bank raised its benchmark repurchase rate in July for the first time in a year ...

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Do You Have Unclaimed Pension Benefits?

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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.

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Source: Financial Services Board (FSB)

The statistics

Rosemary Hunter, deputy registrar of pension funds at the FSB, says a recent survey suggests the ...

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JSE ‘recovers’ after aggressive global selloffs

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Reserve Bank declares it is ready to intervene to protect the rand.

In a day of near madness which saw the JSE All Share Index (Alsi) plummet by more than 5%, the index managed to recover in late afternoon trade to close only 2.85% down.

The market rout followed severe selloffs after the Shanghai exchange shed 8.5% to augment concerns about the Chinese economy. The blood also flowed in Europe where the FTSE 100 (-4.5%), the DAX (-3.7%) and the CAC40 (-4.6%) ...

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

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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 pay/remuneration by applying the principle of equal pay/remuneration for work of equal value.

The objectives of the Code are (1) to provide practical guidance to employers ...

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