Medical Aid, AA, Traffic, Fines amp; Taxes

Work Headlines – October/November

A quick synopsis of the news in the past fortnight

Regulations will force retirement fund trustees to act in your best interests

Proposed changes to retirement fund regulations following criticisms by Pension Funds Adjudicator Vuyani Ngalwana that “trustees of RA funds often do not act in their members’ best interests” will compel trustees to do so.

(Personal Finance, 4 November 2006)

Traffic gridlocks may go Underground

Traffic congestion in Gauteng, Gautrain development and building an underground rail network.

(The Independent on Saturday on 4 November 2006)

Pay your Fines or else?

If you have outstanding fines in your name or on your fleet, expect a personal visit to your office, an abrupt stop at a roadblock and wheel clamping to extract settlement. To check whether you face possible arrest, “SMS your identity number to 36997 in Joburg; call (012) 358- 5308 in Tshwane or (012) 358-7273 if you are a fleet owner; or visit your nearest metro police office in Ekurhuleni”

(Sunday Times, 29 October 2006)

Medical aid agony next year

Expect increases in your medical aid contributions to outstrip the inflation rate going up to 15% – ignoring recommendation by the Council for Medical Schemes ( Maximum increase CPI 5.3% + 3% = 8.3%)

(Sunday Times, 29 October 2006)

Domestics want cash-flush state to revive skills plan

The fiasco over the domestic workers’ skills project, a “pet project” of labour minister Membathisi Mdladlana that was closed after the initial period

(Business Report, 27 October 2006)

Tax Personal Services Companies

(Moneyweb, 26 October 2006)

Employees become victims of ‘Affirmative Auction’

The efficiency of the Employment Equity Act (EEA), a driver of Affirmative Action (AA) and the Skills Development system is questioned in this article. Affirmative auction arises when the few blacks with appropriate skills are ‘auctioned’ to the company willing to pay the highest package and they job hop to raise the bids.

(IOL Jobs,nbsp; 20 October 2006)

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