Worksucks

From 1 March 2009, the tax exempt/deductible portion of your monthly contribution to a medical scheme increased by a paltry 9.6% from R570 to R625 for you and the first dependent, rising marginally to 10.1%, from R345 to R380 for additional dependants…

This morning I’m presenting, the Last Word on Total Cost Packages* at the IIR 2008 Pay Conference and for those who are not attending, here is some stuff to think about in your organisation with CTC. Cost to company packages are becoming the market norm, embraced by employers, reward consultants and recruitment agencies.

What is the current situation for employees?…

A quick synopsis of the news in recent weeks

Positive for

School kids that want to stay at home
Department Science amp; Technology
Some Fidentia Staff
GEMS

Negative for

Government amp; Unions
Those relying on the Public Sector Services…

Work Headlines – March

A quick synopsis of the news in the past fortnight

Positive for

Your Retirement Savings
Central Energy Fund
Clerical staff

Negative for

Discovery Health
Middle managers

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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It was Albert Schweitzer (philosopher, physician and humanitarian)nbsp; that said happiness is nothing more than good health and a bad memory. After this month, I wish that he had mentioned the difficulties of health and memories…

In case you missed it last year, with effect from 1 March 2006, the tax regime applicable to medical aid contributions swings away from high income earners towards low income earners. Get up to speed with this brief article in Business Day.nbsp;

The stock market is notorious for the herd mentality of investors to chase after the popular crowd at the time.nbsp; Individuals and institutions have been ruined in the process. Most organisations have adopted total cost packages for their workforce and for those planning to follow, there is a risk of herd mentality. This article dissects conventional wisdom regarding the case for introducing total cost packages in an organisation…