From Jacky’s Desk
The Minister of Health released the National Health Insurance Bill and the Medical Schemes Amendment Bill. These proposed legislative changes intend to pave the way for the implementation of National Health Insurance within the context of striving towards universal access to healthcare for the population. While much work needs to be done to fully understand […]
Read more...Impact of VAT increase effective 1 April 2018
National Treasury announced an increase in Value Added Tax (VAT) from 14% to 15%, to take effect on the 01 April 2018. Although the increase to the end consumer of 1% can be seen as relatively small, as part of the bigger picture the potential amount of time, resources and effort affecting the entire short term insurance industry is massive […]
Read more...2018 Budget Review
The 2018 budget has been crafted under difficult and fragile environment such as risk of credit downgrade by Moody’s, continual gradual decoration of economic growth, high political tension within the ruling party, decline in tax revenue and subdued business and consumer confidence. Make yourself aware of the important issues that the budget addressed.
Read more...Why you should attend the next Benefits Breakfast
Financial security is at the heart of a business’s employee benefits programme and NMG aims to equip employers with the confidence for correct decision-making that will be beneficial for employees. These decisions are meant to protect the ongoing health and retirement opportunities of employees and their families – while ensuring business success. We provide […]
Read more...NMG’s Benefit Benchmark Focus Group Event
On 15 February 2018, NMG held a Benefit Benchmarking study focus group event at the Holiday Inn Sandton. The event addressed concerns raised as a result of work done on the NMG Benefit Benchmark survey. The Benefit Benchmarking survey is still ongoing, and NMG has started to note some trends in the issues businesses […]
Read more...Developing and Implementing a Risk Governance Framework
Namfisa (Namibia Financial Institution Supervisory Authority), is in the process of reviewing its supervisory methodology and intends to deploy Risk Based Supervision (“RBS”). The implementation thereof intended to assist the authority in actively regulating risk as part of the greater Bills Implementation Project. Risk-Based Supervision is gradually becoming the dominant approach to regulatory supervision of […]
Read more...PMR. Africa Business Excellence Awards
Congratulations and well done to the NMG Retirement Administration Business Unit who were awarded the PMR.africa Business Excellence Award (Silver). The purpose of the awards is to enhance competitiveness and to enhance and reward excellence in the industry and to set a benchmark. The PMR.frica completed its annual national survey on Pension Fund Administrators, Consultants, […]
Read more...Discovery Health 2018 Benefit Changes
Discovery Medical Scheme changes in its benefits and contributions. These included the weighted average increase across all plans, increase per plan, general benefit changes, vitality amendments, the introduction of Gap Cover, and changes to the Smart Plan and KeyCare plans. Make yourself aware of these changes with the NMG Benefits.
Read more...Cabinet reshuffle and what this means for Investors
By now the news of the latest Cabinet Reshuffle by President Jacob Zuma has been digested and 31 March 2017 may go down in history as South Africa’s Black Friday. As we have learnt in the past, changes to the South African Finance Ministry creates pandemonium in the short-term. This is especially true if the […]
Read more...Budget Speech 2017 | What you need to know
On 22 February 2017, Finance Minister Pravin Gordhan announced the South African 2017/2018 budget changes. Our NMG Personal Wealth Senior Advisor, Ashley Horwitz has put together key points from the speech. These include tax rate changes, an increase in fuel levy and an increase revenue in alcohol and tobacco excess duties. Make yourself aware of […]
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