Compulsory social security fund on the cards

[etienne_marais]

Compulsory social security fund on the cards

Government is moving ahead with efforts to compel all workers to contribute towards a national social security fund to provide for retirement, death and disability benefits.

http://www.fin24.com/Money/Tax/compulsory-social-security-fund-on-the-cards-20170626

 

[NarrowBandFtw]

Because the ANC government knows best how to invest and spend my retirement money ... said noone EVER.

 

[supersunbird]

Poor article:

Three years ago, government proposed compelling South Africans to put two-thirds of their provident fund savings into a retirement annuity and only allowing them to take one-third in cash. They are currently entitled to the full amount.

Corrected by me:

Three years ago, government proposed compelling South Africans to put two-thirds of their provident fund savings into a living or life annuity when retiring and only allowing them to take one-third in cash. They are currently entitled to the full amount.

 

[Hemi300c]

Another plunder fund for their pockets.

 

[xrapidx]

Gotta wonder why we have to keep paying taxes, and then add on additional services.

 

[konfab]

http://www.fin24.com/Money/Tax/compulsory-social-security-fund-on-the-cards-20170626

I would rather manage the limited amount of money the government allows me to keep myself.

I don't trust people who call themselves financial advisors. I certainly won't trust a a fund that would most likely be headed by some backbencher of the communist party.