GTC Press Release

An increase in personal income tax rates and the marginal rate of tax for high income earners – which will more than likely be announced in this week’s National Budget Speech – will be a bitter pill to swallow in the short term. However, if this does happen, it will provide a good opportunity to boost long-term retirement savings. This is the opinion of Jill Larkan, Corporate Liaison Executive at leading financial advisory and wealth management business GTC. “Given the country’s growing revenue shortfall and the National Treasury’s limited options for raising income, commentators are expecting that personal income tax rates and the marginal rate of tax will be raised, with high earners likely to be affected the most.” While higher taxes rates might be undesirable, she believes it may bring a silver lining for individuals’ retirement benefits. “An increase... Read More

The National Treasury has moved closer to its goal of ensuring that South Africans can retire more comfortably following the release of its revised default regulations for the pension industry. This is the opinion of Jill Larkan, Corporate Liaison Executive at financial advisory business GTC. “These revised regulations follow extensive consultation with the retirement industry after the first draft of default regulations from National Treasury were published in 2015,” says Larkan. “The Treasury has clearly taken the concerns and input from the industry on board and the latest revisions are generally much less restrictive on the providers of retirement benefits, while still protecting fund members.” The aim of the regulations is to lower charges and improve market conduct in the retirement fund industry, to ultimately enhance retirement values by limiting costs and allowing more South Africans to retire comfortably. “The... Read More

The 2016 year has been fraught with busy-ness, and deadlines seemed to have whizzed past many of us over the past 12 months. “Financial crunch” and “economic crisis” are common phrases used by most of the population, as individual salary increases seem to be continuously constrained or even, in some cases, non-existent. Home budgets are stretched so tightly that there’s just no room to squeeze anything more out of them. Yet, without fail, annual insurance premiums and medical aid fee increases continue to climb at above average rates, directly affecting a family’s take-home pay even further. Now, just as you’re about to assess your prospective income and expenses for 2017, you realise you’ve missed the company medical aid annual end of year review presentation or possibly even misplaced the reams of information sent to you by the medical aid company... Read More

Changes to the rules regulating medical cover providers have caused concern among consumers over the continuity of their products. However, very little attention has been paid to the fact that the Minister of Health has requested the Council for Medical Schemes to grant an exemption for a period of two years for the changes in product structures to take effect. Jill Larkan, Head of Healthcare at financial advisory business GTC believes that overall, these changes will be to the benefit of consumers. Click here to read more

The 2016 year has been fraught with busy-ness, and deadlines seemed to have whizzed past many of us over the past 12 months.“Financial crunch” and “economic crisis” are common phrases used by most of the population, as individual salary increases seem to be continuously constrained or even, in some cases, non-existent. Home budgets are stretched so tightly that there’s just no room to squeeze anything more out of them. Yet, without fail, annual insurance premiums and medical aid fee increases continue to climb at above-average rates, directly affecting a family’s take-home pay even further. Click here to read more

With new technology in the form of “robo-advisors” making its way to South Africa, investor empowerment on the increase, alongside the popularity of index funds instead of active strategies, many investors are wondering whether there is still a need for a traditional financial advisor. While it may be tempting to save a few rands by doing away with financial advice, it may cost investors dearly in the long run, says Martin Wagenaar, wealth management consultant at leading financial advisory business GTC. Click here to read more

Today’s 50-year olds are often at risk of inadequate retirement provision The price of your health – You, 6 October Put die meeste uit jou mediese fonds – Huisgenoot, 6 Oktober Top qualities to consider when selecting a medical aid plan Switching medical aid plans without notice period really is possible Retirement Planning for the longer term GTC sluit strategiese ooreenkoms met Ben Niemand en Kie  

Our GTC Investment Analytics team has provided the information below on recent developments related to ‘Brexit’, to assist you to gain an understanding on the relevant information and its potential impact. What is Brexit? Brexit is a term used to describe Britain’s exit from the European Union (EU). The EU is a legal community of 28 member countries that was initially established in the interests of promoting trade, but later increased its authority to areas such as the environment, human rights, immigration and education amongst others. The increased scope of its authority and bureaucracy are contributors to growing dissatisfaction with the EU amongst Europeans. What happened? On Thursday 23 June 2016, Britain effectively voted to leave the European Union by a margin of 51.9% to 48.1%. The result was confirmed early on Friday morning. While the decision is certain, there... Read More