PAGE 2 PAGE 4 PAGE 8 PERSONAL FINANCE// COVID-19// INTERVIEWS// WEALTH ADVISORS// FREE LUNCH OF THE DEBATE ON COVID-19 TRANSNET LOOKING INVESTMENT THEMES INVESTING WORLD VACCINES RAGES ON TO PRIVATE SECTOR FOR REST OF 2021 BizTHE RATIONAL PERSPECTIVENewsDigest WWW.BIZNEWS.COM SATURDAY 21 AUGUST 2021 BIZNEWSCOM The ugly truth about RAs – Heystek BRIEFS Investment strategist Magnus Heystek shares the ugly truth about retirement annuities in this hard-hitting interview. Worse, Over the government have made amendments to the regulations that make it troublesome to access your pension in the event of immigration. Heystek says he rarely advises retirement annuity-like products to his clients, due to their illiquidity as financial 100,000 instruments. He also lambasts the front that many of South Africa’s largest financial institutions put on when it comes to the tax SA mineworkers benefits of these products, outlining that the benefits simply do not outweigh the costs. – Justin Rowe-Roberts vaccinated in various retirement products that they’ve been told to invest in all their lives. And they need that money Hackers got to set up a home or an office or a lifestyle somewhere else. But now sensitive data on that money is locked up. Now that’s already creating a lot of anger and a 40 million lot of uncertainty. people, says And lo and behold, last week government came with a new draft T-Mobile taxation bill which said, in addition to the three-year waiting rule, there will Magnus Heystek on the situation be an exit tax applied to those people Govt wants with retirement annuities in South who decide to formally immigrate. South Africans Africa So that is not only immediate, it has “Before the unrest in KZN, a very severe impact on people who change your mind. You might want and destitute. But you putting your to pay 12% want to immigrate and they need government came with certain to immigrate for whatever reason. money into a monkey trap, you can proposed changes under what the money now – that’s now very put your hand through the trap, but of earnings into circumstances you can withdraw debatable how long they’re going How to transfer your you can’t withdraw it. And that, to state-managed money from a retirement to wait and what taxes they have to retirement fund out of South me, is very dangerous. And we need fund annuity (RA), pension fund and pay. But the question many people Africa in 2021 and beyond to debate this.” provident fund when you decide – younger people, professional to immigrate. Up to now, financial people – they might not even be It’s your money. The government On new amendments to the pension World’s biggest immigration was fairly simple. You contemplating retirement now but is actually saying – it’s not actually fund amendments would financially immigrate and they might some time down the road. your money. We gave you that tax- “That’s correct. It’s not only your sovereign wealth you would pay certain taxes, you There might be another flare up. Now, free gap to put money in. We have a retirement annuities, it’s also your fund earns will withdraw your money and the big question is – is an RA still right what you do with your money pension fund and or preservation it will leave with you when you worth it? Should you even consider when you pull that out. Now, that fund. Retirement capital now stays decide to immigrate. Now that an RA in the sense that it’s already a to me is very ominous. And people in South Africa. You can go – you R1.6trn ruling was changed, so there’s a very illiquid investment instrument must be made aware of the fact that and your family can go, but the in first half three-year waiting rule, which is – it’s subject to Regulation 28 of the government is already doing it and money remains behind. You start bad enough. Government has said Pensions Act, which has severely will increasingly exercise control your process and you have to come your money must remain behind impacted your growth because over your retirement money. Which back three years later and you have when you decide to immigrate. you were allowed 30% of offshore them, together with the retirement to prove to someone in Treasury July unrest saw Now that’s already creating exposure over the last 10 years. planning industry, has been urging that you have immigrated.” over consternation amongst a lot of And now you’ve got the uncertainty you to put money away on the basis R119m people who might be middle-aged that although you’re building up that people retire with not enough Listen to the full interview in ‘hard cash’ and might have R10m or R20m some retirement capital, you might money and they’re going to be poor stolen from banks and ATMs Subscribe here for your weekly BizNewsDigest Subscribe now The BizNews Shop Everything from Investing like Warren Buffett to Cyril Ramaphosa’s audiobiography by Anthony Butler (Read by Alec Hogg) 2 | SATURDAY 21 AUGUST 2021 WWW.BIZNEWS.COM COVID-19 Covid-19 vaccines: the debate rages on ast week, a video was uploaded to health issue. I think if one wants to put some vulnerable individuals. This disease is the first Bitchute in which Dr Susan Vosloo, perspective just for this country briefly; the medical condition ever that is predominantly, DOWNLOAD THE FREE SA’s first female heart surgeon, raised expected usual deaths from flu annually is I would say, ‘mismanaged’ – not by Lgrave concerns about the safety of Covid-19 about 0.1% to 0.3% of the population. Now knowledgeable people but by politicians, BIZNEWS.COM APP vaccines. Dr Vosloo also questioned the if we just consider our country that has a bureaucrats and academics. And it’s fueled manner in which Covid-19 has been population of just over 60 million – the death by relentless scaremongering created by the addressed, stating that, “this disease is rate so far is about 72,000 in about a year media.” the first medical condition ever that is and a half. So if you calculate the deaths per predominantly, I would say, ‘mismanaged’ thousand of the population or in terms of the On the suppression of early treatment – not by knowledgeable people but by total population – we are at 0.12% compared modalities BN politicians, bureaucrats and academics. to the US that is at 0.18%, nearly 0.19% and “From the beginning, it was very clear that And it’s fueled by relentless scaremongering the whole world is at 0.05%. So for such a there was no interest whatsoever in treating created by the media.” The video received small number of potential deaths, there’s patients and relieving suffering and preventing fierce pushback from the medical profession been huge implications for the normal and death. The vaccine was shown as the only Click on the links below to as being a contributor to the increasing healthy society. potential saviour and the official advice was download your own free vaccine hesitancy in the country – which If one compares with the Spanish flu that that this was a disease like the flu with a BizNews.com App is said to be a major roadblock to the vaccine happened in 1918, more than 5% of the world vascular component that was untreatable. The rollout. – Nadya Swart population was killed – so this really pales suggestion was made that people should just into insignificance. But I think one has to stay at home, do nothing until they are not Dr Susan Vosloo on Covid-19 and its low acknowledge [it] as ongoing and if this was able to breathe anymore and then seek help. mortality rate started as an artificial disease where there are That is far too late. Some well-known, early “I was asked to speak about the gene therapy people getting sick, there are people dying – I treatment modalities have been suppressed that’s disguised as Covid vaccinations and don’t think one can exclude the potential for – you know what they are. The one drug the question was ‘are they effective and are more waves to come. And what astonishes one was connected with the previous American they safe?’ I think one of the views that really is that the waves are predicted and they predict president. Fabricated and discredited scientific appealed to me is that the vaccine was not when they come and predict when they go study followed that has been – in medical and this has also been discredited continuously brought in for Covid, but that Covid was and one just wonders how that happens. history, quite embarrassingly – retracted by – even going so far as to writing scientific brought in for the vaccine. And once one Another new experience for us in healthcare two of the biggest journals that exist. papers where it is called ‘a right-wing drug’ realises that – there are many things that is that historically, health issues have been The other drug that some people refer to as which is really hard to take seriously.” make more sense. managed by medical professionals – focusing ‘vitamin I’ has also been shown to be effective Like Dr Kirsten said, this is not really a on the sick and taking care of protecting by many people treating these patients early Watch the full video here The minimum investment GOLDEN VISA amount will be raised to Є500k in a few months, so it is essential to seize this PORTUGAL phenomenal investment opportunity while it is still A last chance for an exceptional available.