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The social assistance disbursed by SASSA takes the form of various grants; most of them are means-tested and paid in cash on a monthly basis. These are the Child Support Grant, the Care Dependency Grant, the Foster Child Grant, the Disability Grant, the Grant-in-Aid, the Older Person's Grant (an old-age pension), and the War Veteran's Grant. [6]
A beneficiary fund is defined as a pension fund organization in the Pension Funds Act No.24 of 1956 of South Africa, as amended in 2008. [1] A beneficiary fund is a uniquely South African entity designed to accept and administer lump sum death benefits allocated in their discretion by retirement fund trustees to the minor dependants of deceased retirement fund members, as set out in section ...
Pension systems provide a way of securing long-term savings but also an indirect way to alleviate poverty, which affects many on the continent. A number of African countries including South Africa, Namibia, Mauritius and Lesotho [4] have used non-contributory universal pensions as a foundation for broad social security coverage. Many pensioners ...
One common question that arises when leaving a job is whether you can cash out your defined benefit pension plan. Defined benefit pension plans, often referred to as traditional pension plans ...
Lump sum vs. annuity: 6 factors to consider when making your decision. Everyone’s financial situation is different, so it’s important to consider a few key factors — such as tax implications ...
This is a list of acts of the Parliament of South Africa enacted in the years 1970 to 1979. South African acts are uniquely identified by the year of passage and an act number within that year. Some acts have gone by more than one short title in the course of their existence; in such cases each title is listed with the years in which it applied.
The old-age pension accounts for the highest amount of government expenditure among all social assistance programmes in South Africa. [20] The old-age pension was established in South Africa as early as the 1920s. [21] However, the old-age pension system had reflected strong racial inequality until the 1990s. [21]
The South African law of succession prescribes the rules which determine the devolution of a person's estate after his death, and all matters incidental thereto. It identifies the beneficiaries who are entitled to succeed to the deceased's estate, and the extent of the benefits they are to receive, and determines the different rights and duties that persons (for example, beneficiaries and ...