According to data released today by the United States Bureau of Labor Statistics, 26% of people unemployed in the US have been out of work for than 6 months. That is the highest in almost 10 years if you exclude the immediate impact of the COVID lockdown
@Tebogo_ZA Looks like it’s a living Annuity which is not governed by the Pension Fund Act but Long term insurance act. Beneficiary nomination takes priority.
@pally28445511@nolengae@IamMzilikazi Only for RA, Pension and Provident funds (before retirement). There are no investigations for living annuity funds (post retirement).
US economy added a disappointing 73 000 in July, unemployment rate up to 4.2% and massive downward revisions to prior two months data. US manufacturing lost 11 000 jobs in July after losing 15 000 jobs in June. Significant increased chance of a rate cut in September
SA inflation up at 3.0% in May driven mostly by food and housing. Market expected 3.1%. SA inflation is expected to continue to drift higher in second half of the year, but there is still scope for the Reserve Bank to cut a further 25bps.
US inflation a mixed outcome in June with headline inflation up at 2.7% and core inflation at 2.9%. There is some evidence of tariffs pushing some prices higher, but a lower monthly increase in shelter helped to soften the headline impact.
@mayaonmoney In addition to the regular delays, they are taking forever to send two pot breakdown information to providers for resignations causing futher frustration for members.
SA headline inflation slightly higher than expected at 2.8% due to sharp increase in food prices. This is despite a decrease in the fuel price. In contrast core inflation slightly lower than expected at 3.0%. Overall SA inflation remains well under control. Rate cut possible
MEDIA RELEASE: THE GOVERNMENT EMPLOYEES PENSION FUND RELEASES ITS LATEST STATUTORY ACTUARIAL VALUATION RESULTS. Visit https://t.co/MA082yMiNI for more.