Pension Reforms : No need for panic
A huge uproar is currently being made of the fact that the President has signed the Tax Administration Laws Amendment Act and Taxation Laws Amendment Act of 2015, pertaining to certain pension reforms, into law.
These reforms take effect on 1 March 2016. Members are yet again reminded that the reforms only affect PROVIDENT FUNDS. The Government Employees Pension Fund (GEPF) is NOT a provident fund, but a pension fund. Members of the GEPF will therefore NOT be affected by these pension reforms. In other words the pension rules that currently apply to educators remain as they are. Gratuities will still be paid to those educators who retire and qualify for such gratuities in terms of the GEPF Rules. The taxation law coming into effect on March 2016 will align and extend the current dispensation to provident funds, and hence will not change the rules of GEPF in anyway.
The GEPF is a defined – benefit fund, where Government, as the employer, guarantees all benefits to all members, irrespective of what happens to the funds invested by the GEPF.
Members are therefore urged to ignore the rumour that is spreading that there will be no lump sum benefits payable from GEPF.
National Treasury Media Statement of 2015120301 on Implementation of TLAA 2013
National Treasury QA Tax harmonisation 03 Dec2015
NAPTOSA'S COMMENT ON THE 2015 NSC RESULTS
EMBARGOED UNTIL AFTER THE ANNOUNCEMENT BY THE MINISTER
Dr Anthea Cereseto, the incoming President of the National Professional Teachers’ Organisation of South Africa (NAPTOSA), commenting on the results of the 2015 National Senior Certificate (NSC) commended the Department of Basic Education (DBE) on its management of the NSC examination involving approximately 800 000 candidates. The decrease in the overall pass rate from 75.8% in 2014 to 70.7% in 2015, while disconcerting, does demonstrate the commitment of the DBE to implement the higher cognitive demands of the CAPS curriculum, said Dr Anthea Cereseto.
However, NAPTOSA’s congratulations are muted amidst the continued dishonesty and ongoing cheating in the 2015 NSC examination, said Dr Cereseto. NAPTOSA calls on the DBE to make public the disciplinary actions taken against the perpetrators of the 2014 NSC mass cheating, she added. Failure to do so creates the impression of condoning such acts and threatens the credibility of the NSC in the coming years.
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