Jse Limited · JSE:JSE
Jse — JSE Pension Fund — Investor Presentation (July 2024)
14 slides from Jse's investor presentation, July 2024
Slide 1: JSE Pension Fund: Two pot system for a pension fund
JSE PENSION FUND Two pot system for a pension fund July 2024 Skye Hartog Neil Savage
Slide 2: Recap: Savings in the fund
Recap: Savings in the fund • Called a fund credit • Typically changes value by: ➢Monthly contributions net of insurance premiums and fund costs and by ➢Investment growth (+/-) net of investment fees
Slide 3: The near future: Fund Credit split
The near future: Fund Credit split • At 1 September 2024: Fund credit will be split into 3 parts: ✓Vested component (VC) ✓Savings component (SC) ✓Retirement component (RC)
Slide 4: Vested component – same ol' same ol'?
Vested component – same ol’ same ol’? • What is it? ➢ Fund credit balance at 31 Aug 2024 less Savings component seed at 1 Sep 2024 plus future net investment growth less a share of deductions less tax - PROTECTED FROM TWO POT SYSTEM RULES! No contributions made in respect of the months of Sep 2024 o
Slide 5: Savings component – the pot born of dire need
Savings comPOnenT – the POT born of dire need ➢ Savings component (SC) seed transferred from VC on 1 Sept 2024: the LOWER of 10% of Fund credit balance at 31 Aug 2024 or R30,000. ➢ SC gets one third of monthly NET contributions from 1 Sep 2024 and grows with net investment growth (+/-) ➢ The way SC
Slide 6: Retirement component – the pot of the future
Retirement comPOnenT – the POT of the future ➢ Retirement component (RC) receives two thirds of NET contributions from 1 September 2024 onwards. ➢ RC grows with net investment growth (+/-) ➢ The way RC is accessed: ✓ Normally* accessible ONLY at retirement as a pension net of tax provided by a regis
Slide 7: Some of the fine print
Some of the fine print • The value in the SC is a small fraction of the fund credit balance on 1 Sept 2024 – 10% or less • Tax bonanza for SARS/government if many fund members make savings component withdrawals • A savings component withdrawal amount has a potentially MASSIVE opportunity cost of all
Slide 8: Live example – fund credit balance growth
Live example – fund credit balance growth
Slide 9: Live example – return on each month's contribution – a potential opportunity cost!
Live example – return on each month’s contribution – a potential opportunity cost!
Slide 10: FAIS Disclosures: Investment Disclaimer
FAIS Disclosures Investment Disclaimer The presentation/document should not be seen as an offer to purchase any specific product and is not to be construed as advice or guidance in any form whatsoever. Investors are encouraged to obtain independent professional investment advice before investing in
Slide 11: FAIS Disclosures: Introduction
FAIS Disclosures INTRODUCTION The Financial Sector Conduct Authority (‘FSCA’) together with the Financial Advisory and Intermediary Services Act, No. 37 of 2002 (‘FAIS Act’), regulates the South African financial services industry and requires Robson Savage (Pty) Ltd (‘Robson Savage’) to disclose ce
Slide 12: FAIS Disclosures: Key Individuals
FAIS Disclosures KEY INDIVIDUALS The following persons have been registered as Key Individuals of Robson Savage: • Neil Savage REPRESENTATIVES The following persons have been registered as Representatives of Robson Savage : • Neil Savage • Naledi Monyane • Ian Jacobs • Marinda Pretorius • Monya van
Slide 13: FAIS Disclosures: Insurance and Conflict of Interest
FAIS Disclosures PROFESSIONAL INDEMNITY AND FIDELITY GUARANTEE INSURANCE Robson Savage is covered by comprehensive insurance arranged with Lombard Insurance Company through PI Financial Risk Services, including Professional Indemnity and Public Liability Insurance for Insurance Brokers and Financial
Slide 14: FAIS Disclosures: Ombud contacts
FAIS Disclosures Office of the Ombud for Financial Services Providers, for all FAIS related complaints: Kasteel Park Office Park Toll free no: 0860 FAISOM (0860324766) Orange Building, 2nd Floor Email: info@faisombud.co.za 546 Jochemus Street, Erasmus Kloof PO Box 74571, Lynnwood Ridge, 0040 Pretori