If you have never heard of preservation funds before, they are designed to protect either your RA or your provident fund. This is usually in the event of you being fired, retrenched, given a “going away” package or simply if your company has been taken over by another and you have been demoted, sidelined or even replaced. These are all not that pleasant but it is nice to know that if you have been paying into a RA or into a provident fund, your ex-boss will play a role (albeit a small one) for you to join a preservation fund.
Here’s the nitty-gritty about preservation funds:
- Part of the benefit can be transferred to a preservation fund and part can go to a RA.
- No additional funds can be added to a preservation fund and can only receive funds from other retirement funds that have been approved.
- Any future qualifying benefits can also be preserved in the preservation fund.
- One withdrawal from the preservation fund can and may be done before retirement.
- Transfers from one preservation fund to another can be done provided the new employer is a participant of the other fund.
- If one withdrawal has been done already from the original fund – further withdrawals are not permitted.
- A preservation fund is not permitted to be transferred to a retirement annuity fund.
- On retirement the member needs to resign from the preservation fund.
- Should the member not be employed he or she can retire from the preservation fund between the ages of 55 and 70.
- However, should an individual retire BEFORE the age of 55 due to a disability or if he or she cannot work due to illness he or she may retire from the preservation fund.
There are a couple of things that distinguish a preservation fund from a retirement annuity fund. Take note that the number of years that have been accumulating in the previous fund prior to being transferred will be taken into account when calculating the tax-free lump sum.
Preservation funds play an important role when an individual’s circumstances change in the work-environment. If you are concerned about the transferring of your RA or provident funds – investigate the options of joining a preservation fund to secure your monies.
For more information on preservation funds and the like contact a leading financial institution like Coronation.
There are two things that stand out when it comes to money market funds – they are low risk and they give relatively low returns.
Although interest rates are at a low level, questions about money market funds still pop up every now and then; can they work for you, what return can you expect and what other options are there?
- In general, money market funds provide higher returns than most savings accounts do. Money market funds are a conservative way to invest with little risk exposure.
- On the positive side, your investment is relatively safe and the chances of losing your money are slim unless something goes drastically wrong with the financial services group where it is invested.
- Money market funds don’t tie you down to a set investment period of time and the cash is usually available within 48 hours.
- Take note that low risk means potentially lower returns.
- Money market funds are good long-term investments because they cannot compete with inflation and won’t necessarily grow enough to beat fast-rising prices such as petrol hikes.
- This is obviously not the ideal way to invest your retirement money but if you are in possession of a lump sum this is a good way to invest in the time-being.
So when and how can a money market fund work for you?
- If you want to protect your money so that it does not devalue but do not want to take the risk involved in earning a higher return this is the type of investment that would be an excellent choice.
- Money market accounts are used as emergency funds from which cash can easily be withdrawn.
- This is also an excellent way in which to save in the short to medium-term – for example a twelve month period and can be used for something such as funding an education or a holiday.
Money market funds are a safe investment but the returns are relatively low although the nice thing about them that is they come with little risk.
Try visit sites like Coronation for more information of money market funds.
February 25th, 2013 in
It can’t be only be advantages, you also have to deal with disadvantages and see if you can handle them and try to change some of the things maybe. In many cases, customers want to experience the product before purchase. Ecommerce
does not allow that. If you buy a music system, you cannot play it, there are such disadvantages when buying online, which is why retail still has a lot of customers when it comes to that. When buying online you will get disadvantages such as:
There are many products that consumers want to touch, feel, hear, taste and smell before they buy.
Ecommerce can only be transacted with the help of an Internet access device such as a computer or a smartphone.
Not just does one need an access device; one also needs Internet connectivity to participate in ecommerce.
Consumers and businesses alike suffer from credit card fraud and some doomsayers go so far as to predict that fraud will lead to the demise of online business.
Consumers run the risk of identity fraud and other hazards as their personal details are captured by ecommerce businesses.
If shopping is about instant gratification, then consumers are left empty-handed for some time after making a purchase on an ecommerce website.
Consumers are often taken in by fly-by-night ecommerce websites that look good, but are up to no good. You have to be wise and don’t just fall in the trap, make research and see if they have customer that do rely on them.
Even a few minute of downtime can lead to a substantial loss of money, not to mention customer dissatisfaction.
In the case of physical retail, customers are usually willing to travel to the retail outlet to return/replace goods if required. But receiving goods back is a bigger nightmare for an ecommerce business.
Now that you know these disadvantages, it is up to you as a consumer to take charge and make sure when buying online you are not taken for a ride. Another of the limitations and disadvantages of e-commerce is that it is not suitable at all for consumable commodities like food items. Sometimes a lot of phone calls and e-mails are being required till you get your desired products. These factors also act as disadvantages of e-commerce to customers, it is true ecommerce is not for everything that you need just limited items that you can’t get at your local store. It’s up to you at the end of the day; you can go online and get what you looking for or keep trying at your retail store.
September 27th, 2012 in
Sometimes people find themselves in a financial emergency and it can leave them hanging with very few options. Something unplanned may come up such as an unforeseen car or house repair or even a medical situation. When searching out an answer to this problem, cash loans
may be the answer.
Finding someone to offer a fast cash loan is not as hard as one might think and rather than continue to worry about an unexpected expense, you can actually take care of your financial obligation. Not all payments can wait until your next payday and you may need money now.
You never know when you might find yourself in a situation that requires cash now and it is money that you do not have saved up. These emergencies come up at any time and that is why a cash loan may be the best solution. Numerous lenders have the ability to approve cash loans quickly. Many times without worry of bad credit history or even collateral.
Generally the process of taking out a personal cash loan is a fast one. An applicant just fills out a short form, determines how much they need to take out and sends it in. Some cash loan lenders have the ability to even have the money that the applicant needs deposited into the borrower’s checking account within an hour.
There are a couple of different types of loans. One is secured and the other is unsecured. An unsecured cash loan does not require collateral put up on the loan to the lender in case of default. It typically has a higher interest rate and a shorter repayment period, depending on how much is borrowed. A secured loan does require some sort of personal property such as a vehicle in case you are unable to make your repayment. The interest loans are usually lower because they are of less risk to the lender.
When considering cash loans, keep in mind whether or not it will be a short term loan to keep you afloat in between paychecks. Take into consideration all of your usual expenses including regular bills. When applying for emergency cash loans, try to only borrow the least amount of money you need in regards to how you can pay it back realistically and on time.
If you are in a financial crisis, you will only make things worse if you continue to get in over your head in debt. On the other hand, it can help you improve your credit rating because cash loans rarely require credit checks. This is a chance for you to show that you are able to pay a monthly amount on time and create a more positive payment history.
What does it mean to be blacklisted for cash loans? It means that the person has likely ruined their credit by not paying bills on time. They end up on a list of people that are banned from receiving certain financial services. The declined services are things such as monetary loans or credit cards. It makes it harder to get loans, but not always impossible.
Although it can still be possible to get cash loans when blacklisted, there are consequences to getting one under these circumstances. If there are interest rates involved with repayment, then the rate will likely get raised significantly. This creates a higher penalty for the person if they should fail to pay.
If someone is blacklisted but still really needs cash loans, they should call and speak with a consultant. The consultant can clearly explain the risks and benefits involved in the decision. They can also help to make the individual aware of their options. The available options tend to be much less for someone in this situation.,
Even though people that have been blacklisted are considered high risk, they can still receive cash loans. Sometimes the lender doesn’t worry about that and will loan the money anyway. If the person has a good paying job that can help them to be approved.
If a person is unsure if they are blacklisted, they can contact credit agencies to have a credit check. That is a quick and easy way to find out for sure. It saves the embarrassment of applying for cash loans prior to finding out what position the individual is in. It can be difficult to get out of the debt rut, so talk to the consultant. They are there to help answer any questions and for guidance throughout the process.
May 10th, 2012 in
Very common in newspapers and magazines, a horoscope is a diagram used by astrologers in interpreting a general event or events touching on a person’s life. Such interpretation is usually in relation to sun or star sign. In case of an individual, the sign is usually one’s birth date. The practice takes into account five main factors; the native, celestial sphere, plane of the equator, plane of the ecliptic and the plane of the horizon.
The native is usually the subject to be charted in relation to a particular time and place. It forms the core of celestial sphere, which is an imaginary sphere on which the zodiac, planets and constellations relate. The plane of the equator is the earth’s equator projected into space and which maintains an inclination with the plane of the ecliptic. The orbits of the sun and earth define the ecliptic. The plane of the horizon has its center on the native.
In creating a horoscope, an astrologer is obligated to first ascertain the time and place of an individual’s birth in detail or the exact beginning of an event. Depending on an astrologer’s location, he/she converts that time to GMT. This is then converted to sidereal time of an individual’s birth or event’s occurrence before calculating the ascendant (East angle) and midheaven (South angle). The ascendant is the eastern point at which the ecliptic and horizon meet. The other two angles that are also important are the descendant (Western angle) and Imum Coeli (Northern angle). The other important factors that an astrologer will consider include the zodiac and cusp, the boundary between two signs.
In total, an astrologer considers up to twelve sectors that occur around the ecliptic circle, sectors referred to as houses. It is only after establishing the positions of signs in the houses that an astrologer will position the planets at their celestial longitudes. Other minor planetary bodies such as steroids are also considered. Creating a horoscope ends with consideration of relative angles between different pairs of planets.
People depend on their mobile devices for just about everything. Whether it is cell phones, tablets, or touch screen equipment, mobile devices handle many elements of everyday life.
Webdesign.co.za is acutely aware of the latest trends in mobile application design. They understand the importance of staying informed about consumer demands. Following are just a few of the latest trends developers should know about.
Larger Text Application Design
As users age and mobile devices become smaller, it becomes increasingly difficult to read the screen. The iPad’s success is largely attributed to the fact that consumer demand spoke to the need for larger text. Designers have now created text-driven mobile applications that feature brief blasts of information with larger type. This mobile application design trend is popular because user’s receive a consolidated message that is much easier to read.
Affect of Text Type
In mobile application design, text type is just as important as text size. A popular trend that web developers have adopted is the use of thin, smooth type faces rather than heavily designed fonts with “serifs.” Smooth type faces load up instantly into web devices. Even if the typeface is set in bold, it will not overwhelm the user’s eye.
A Picture is Worth a Thousand Words
Anyone that has ever heard the expression “ a picture is worth a thousand words,” will appreciate this next trend. Many device users prefer their mobile application design to feature pictures rather than text. Pictures make an attractive, bold statement. Pictures also immediately convey a message that is easier for the mind to process. Advertisers entice device users with pictures of succulent foods, exotic destinations and luxury products that are sent to consumer’s mobile devices.
Color, Texture and Depth
The use of color, texture, depth and light are constantly explored in mobile application design. Most times, bright colors help to grab the user’s attention, especially in gaming. The use of color in games for adults and children keeps users interested and occupied. Other uses of color include gradient shading which gives the user’s eye the perception of depth. Minimal designs with simple compositions win every time over busy creations without structure.
Webdesign.co.za is on top of the trends when it comes to mobile application design. They produce creative proposals to fit every budget. Consult Web Design for creations that will keep mobile users coming back for more.
March 19th, 2012 in
How to get the Lowest Insurance Quotes
When attempting to get business insurance quotes, it is vital that you get as low of a quote as possible. There are many ways that you can save money on your insurance quotes. Below you will find some tips and tricks that are extremely useful when it comes to saving money on insurance quotes and insurance in general.
When looking for insurance quotes, it is extremely important that you shop around the various insurance companies to find the best rate. The great thing about insurance quotes is that they are very easy to get and only take a few minutes to complete. Because of this simple fact, it is quite easy to shop around at the various insurance companies to find the best rate. Often, insurance rates and insurance quotes will vary at different companies even though your information is the same. The reason for this is because some companies are more risk averse than other companies, meaning they don’t have the capital to take on risky assets.
Another method that will allow you to get the lowest insurance rates possible is by simply researching the insurance you are about to obtain. By researching the prospective insurance that you’re about to purchase, it will allow you to have a general idea of the price you should be paying. It will also get you familiar with the terms and vocabulary that the particular type of insurance uses.
Remember that all insurance is different and can be quite confusing if you’ve never had that type of insurance before. Another tip for getting low insurance rates is to be assertive when you’re getting a quote. Know when the company is trying to stick an extra fee on and ask them to take the fee off.
The Best Way to Measure Portfolio Performance is in its History
• Portfolio performance is measured by how the fund has done historically, and
• What the level of performance relative to the standard or benchmark has been.
• This provides clients with the necessary information to accurately asses the results of the procedure.
• Bear in mind that performance does not tell you how the income was generated.
• If a portfolio manager’s performance were random (if he was simply lucky), then that performance would obviously not be expected to be repeated in the future.
• Would there be a specific method of analysing the returns of a fixed income portfolio in order to show the portfolio manager is losing monies from spreading credit while making money?
• There is a way, though, and this is called attribution analysis.
• People generally agree on how to calculate equity.
• Performance attribution models which are based on the different investment processes will permit you to look at the returns that are generated by each type of investment decision made by the portfolio manager.
It is doubtful if there will ever be a ‘one-size-fits-all’ approach to fixed income performance attribution.
January 19th, 2012 in
A balanced portfolio is the Answer When Investing
Where will you get the best returns on your investments; will these be in unit trusts, property, shares or something other than these mentioned?
Here are some ideas to grow your money
Over the long term:
• Long term investments are those that can be left to grow for longer than 7 years.
• Long term investments usually need to meet two requirements; they should protect you from inflation, and they should yield a decent return on capital.
• A good example of long term investments is listed property trusts and well-diversified portfolios of quality shares.
• In the long term, investments in riskier investment classes such as shares usually beat inflation rates.
• Inflation is the long-term investor’s biggest enemy.
• Stock markets cause the same amount of anxiety for short term investors.
Over the short term:
• Invest money for short term goals in a reasonably safe investment that is not exposed to market fluctuations.
• These would include money-market funds.
• These also include conservative unit trusts.
• You could also invest in a fixed deposit at a bank.
It is advisable to get a second or a third opinion and compare the investment’s yield, commission and fees.
January 19th, 2012 in