July 12, 2023

Gary Mockler Group Chief Executive Officer _______________________________________________________________________________________________________ Robbing Peter to pay Paul – a GTC perspective on the Two-pot retirement system With the advent of the Two-pot retirement system, GTC is being asked for an opinion on this mechanism.  Before I put forward this opinion, some context on the retirement savings regime in South Africa is called for.  For as long now as I can remember, various pundits and authors (they are not always the same thing) have been quoting the very poor records of South Africans, as retirement savers.  A commonly used statistic is that some 6% of South Africans retire with sufficient financial means to continue life as before without having to adjust their lifestyle or continue earning.  A quick Google trawl as I write this confirms that this statistic (or thereabout) prevails today, and it is my... Read More

Jillian Larkan Head – Healthcare Consulting   _______________________________________________________________________________________________________ Will South Africans really have the free healthcare the NHI brochure promises? The National Health Insurance (NHI) Bill was passed by the National Assembly on 12 June 2023 and is now headed to the National Council of Provinces, where it will undergo further scrutiny. When a Bill is passed, it has usually undergone rigorous scrutiny, verified proof-of-concept, and is ready for practical implementation. In GTC’s estimation, South Africa is, unfortunately, light-years away from meeting our healthcare objectives, notwithstanding the passing of the NHI Bill last month. Governments’ ‘What is NHI?’ brochure reveals what the South African population has been told about this national scheme.  Let’s unpack why the vision portrayed by the brochure is ideal for all South African citizens, and where we think it will not work. The brochure confirms that... Read More