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IOL News
7 days ago
- Business
- IOL News
Divorce and pension interest: essential tips for navigating your rights
Discover essential guidelines for understanding pension interest in divorce proceedings. Learn how to navigate your rights and make informed decisions regarding retirement benefits with expert insights. Image: Stock project The term 'pension interest' arises in divorce proceedings and refers to a notional amount representing the retirement benefit the member spouse would receive from their retirement fund at the date of divorce. Calculating pension interest enables divorcing spouses to share in each other's retirement benefits immediately after divorce rather than waiting until formal retirement. The pension interest calculation takes place at the divorce date, provided the member's spouse is still an active member of the retirement fund at that time. For pension and provident funds, if the member spouse resigns or retires before the divorce date, no pension interest exists, and the benefit accrues solely to the member spouse, thereafter treated as an ordinary asset within the estate. It is crucial to understand that a divorcing spouse's right to claim pension interest depends significantly on the marital property regime: In community of property: Spouses share a single joint estate, and upon divorce, each spouse is entitled to claim 50% of the other's pension interest. Out of community excluding accrual (after 1 November 1984): Each spouse retains their own estate, and there is no automatic claim for pension interest. However, spouses may mutually agree to share pension interest. Out of community excluding accrual (before 1 November 1984): Each spouse maintains their separate estate with no automatic asset sharing, except where a court orders redistribution under Section 7(3) of the Divorce Act. Out of community, including accrual: Pension interest is considered when calculating accrual and shared accordingly. Pension interest calculations differ according to the type of retirement fund: Pension, provident, and preservation funds: Pension interest is the amount the member would have received based on resignation from the fund on the divorce date, as stipulated by the fund's rules. Retirement annuities: Pension interest comprises the total contributions made by the member up to the divorce date , plus simple annual interest calculated at the prescribed rate. Accurate wording of the divorce order is essential to successfully claim pension interest. Ambiguities can cause fund administrators to reject the settlement agreement, leading to costly high-court amendments. Thus, your divorce order must include: Explicit reference to 'pension interest' as defined in the Divorce Act; Clear identification of the specific fund involved; Details outlining exactly how much pension interest is owed to the non-member spouse, including the calculation method; Instructions for the fund to deduct and pay the non-member spouse and to endorse its records accordingly. Once the retirement fund confirms the validity of the divorce order, it must contact the non-member spouse to determine their payment preferences. Available options are either to receive the entire benefit in cash or transfer the benefit into another retirement fund. It is essential to note that the non-member spouse cannot partially withdraw cash when transferring the balance; the choice must be either a full cash withdrawal or a full transfer. Given the potential tax implications of withdrawal, seeking guidance from an experienced financial advisor is strongly recommended to ensure informed decision-making. * Tapfuma is a Certified Financial Planner professional at Crue Invest. PERSONAL FINANCE
IOL News
26-05-2025
- Politics
- IOL News
Cosatu: Employment Equity necessary to correct centuries of discrimination
Political denialists who prefer a state that does nothing to address the injustices of society, past and present, need look no further than neighbouring Zimbabwe as to the real dangers and costs of such procrastination. This is a mistake that we would be wise not to repeat in South Africa. Image: Yiğit KARAALİOĞLU/ Employment Equity is a necessary path to correct three and a half centuries of the most brutal forms of discrimination. This is precisely why the drafters, led by the African National Congress, of South Africa's Constitution, one of the most progressive and internationally respected, stipulated that government is obliged to utilise its powers to address the legacies of the past and the inequalities of today. Any government which fails to live up to these ideals, can and has been taken to court. Political denialists who prefer a state that does nothing to address the injustices of society, past and present, need look no further than neighbouring Zimbabwe as to the real dangers and costs of such procrastination. This is a mistake that we would be wise not to repeat in South Africa. Democracies are noisy by nature, unfortunately in the desperation for scrounging up votes, some political parties choose to beat the drums of sensationalism at the expense of facts and common sense. Perhaps the most ludicrous claim has been that White, Coloured and Indian workers will lose their jobs and be locked out of any future employment. In a normal time, when sobriety was not in short supply in our body politic, or flat earth lunatics were not running amok on social media, it would be sufficient to ignore such nonsensical claims. Video Player is loading. 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Next Stay Close ✕ However, in the era of social media with no fact checks in place, such hysterical claims do real damage to social cohesion. The Democratic Alliance has occupied headlines this week with its ill-considered court challenge on the Employment Equity Act's constitutionality. We are confident that the Act which is nearly as old as our hard-won democracy, will once again withstand any ill-tempered court challenge. Cosatu is confident that the DA's legal challenge, launched at the height of its 2024 elections campaign, will be dismissed as the election gimmick it is. It is important to take a step back and unpack what Employment Equity is and the recent amendments to the Act which have excited the social media warriors. Employment Equity is a call to all employers, public and private, to ensure that all employees are supported and able to reach their full potential, free of any unfair barriers, in particular based upon their race, gender or disability. Employment Equity includes all South Africans; Black, White, Coloured and Indian; male and female, with and without disabilities. None are excluded. It is a nudge to all employers to work towards reflecting South Africa's demographic diversity at their workplaces. Nothing that should offend those who embrace the progressive declaration of the Freedom Charter that South Africa belongs to all who live in it, Black and White. For the first thirty years of democracy, the Employment Equity Act largely adopted a voluntary approach of speaking to employers' better angels and nudging them to work towards achieving diversity, and of course to prohibit any instances of unfair discrimination. Unfortunately, as can be seen across the large swaths of the private sector, many areas and professions remain untouched by the democratic transition. A cursory glance of the Commission for Employment Equity's reports reveal how three decades after 1994, over 60% of senior posts in the private sector are held by Whites and mostly male, yet Whites constitute just over 7% of society. On the other spectrum, virtually all low paying jobs are held by African and Coloured, and mostly women compatriots. We will never overcome our infamous status as the world's most unequal society if one's race or gender continues to predetermine our career path in life. The 2023 amendments to the Act seek to adjust our path and put in place measures to nudge those employers who have made little or no progress on this journey. Hence the Minister may set targets for sectors or professions. Once one moves past headlines and examines the targets, it is clear that these are relatively modest and seek to nudge employers to make progress. On average, the targets would see a 10% improvement on existing employment equity data, hardly stuff that should give employers palpitations. Nowhere in the targets, Regulations or Act, does it provide for any employee to lose their job. In fact, that would fall foul of a variety of our labour laws and Constitution. None of the targets amounts to 100% of the workforce. The targets are set over 5 years and where employers genuinely cannot meet them, exemptions are provided for. The fact that no one has taken an employer or government to court alleging that they have been fired because of the Act, is evidence of the balderdash of their claims of persecution and discrimination. The amendments also address an important matter correctly necessitated by a court case requiring the recognition of regional demographic diversity and enabling employers to take them into account. This is critical as the demographics of Limpopo are the polar opposite of those of the Western Cape for example, and workplaces need to accomodate that reality. One would have thought that this well-considered and important gesture towards inclusivity and non-racialism would have been applauded by the Act's opponents! The amendments recognise the spectrum of disabilities, an important step forward towards improving the appallingly low levels of employment for persons with disabilities. Lastly the amendments require employers doing business with the state to have compliance certificates for the Employment Equity and National Minimum Wage Acts, an important way to incentivise compliance with good labour practices and disincentivise those who prefer to undermine our labour laws. Employment Equity is a sensitive matter for all workers, it is one that must be handled with care and not exploited for social media likes or votes at the ballot box. It is about addressing the discrimination that millions continue to face because of their race, gender and disability. It is about ensuring all South Africans are able to reach their full career and earning potential and thus helping to unlock economic growth. Solly Phetoe is the General Secretary of Cosatu. Solly Phetoe. Image: File
IOL News
24-05-2025
- General
- IOL News
The dilemma of celebrating graduations: balancing joy and respect
Graduations have "become more about loud celebrations than dignified events". Image: Ranquist ACCORDING to educational expert Hendrick Makane graduation ceremonies have "become more about loud celebrations than dignified events". 'As an education activist, I believe these ceremonies should maintain a level of respect and decorum, allowing all graduates to feel celebrated and honoured. 'Excessive noise and disruptions can overshadow other graduates' achievements. Graduation ceremonies are a time to acknowledge individual accomplishments, and loud outbursts can detract from this,' said Makaneta. He said loud noise could also detract from the dignity of the ceremony. Hendrick Makane Image: Supplied 'Graduation is a significant milestone, and maintaining a respectful atmosphere ensures the event's gravity is preserved. To maintain dignity, graduates and families should respect the stage by being mindful of noise levels. 'But equally they must avoid excessive noise that might disrupt the ceremony by respecting the proceedings. It is important to follow the ceremony's structure and timing. The other thing is to consider others, including fellow graduates and guests, ensuring they too can also celebrate their achievements." He said some celebrations, which could make others feel uncomfortable, should be left for home. 'It's advisable for graduates and families to reserve their most exuberant celebrations for after the formal ceremony or at home. This allows the graduation ceremony to maintain its dignity, while still permitting joyful expressions of achievement,' he said. Professor Jonathan Jansen, from the Stellenbosch University, said he enjoyed the celebration spectacle at graduation ceremonies but agreed that over celebrating could take away from other graduates. Professor Jonathan Jansen Image: Supplied 'I like the excitement and enthusiasm of attendees at graduation ceremonies when celebrating the achievements of family members. We have broken the stiffness of European rituals and rigidities and given an African flavour to these events. 'However, there has to be some restraint on what is sometimes excessive celebration that drowns out the announcement of the names of graduates, especially ones following after a particularly loud and sustained outburst by a previous candidate crossing the stage,' said Jansen. Dr Rajendran Thangavelu Govender, the Commissioner of the CRL Rights Commission (Cultural, Religious and Linguistic Communities), said everyone's culture was different and deserved its own time to shine. Dr Rajendran Thangavelu Govender. Image: Supplied 'It is a big moment when you graduate, and gone are the days of outdated colonial times when one sits quietly at a graduation ceremony. Families and the graduates work hard to graduate, so how they behave is not an issue. The notion of sitting quietly, like it is a solemn occasion, is old fashioned. 'Everyone should have the freedom to scream to acknowledge and celebrate in their own ways. It is all in excitement. We need to understand that we live in a diverse South Africa. Graduations are now colourful and exciting. 'I remember when I graduated with my PhD. I did my dissertation on different cultures and all the different cultures present at my graduation ceremony were screaming and ululating for me. It's a primitive mentality to be offended by one's excitement,' said Govender. The Durban University of Technology said there were rules and guidelines that should be followed during a graduation ceremony. 'The university has formalised and recently approved a Standard Operating Procedure (SOP) for the reading of graduates' names, which is being implemented at the 2025 Autumn graduation ceremonies. This SOP outlines clear expectations during the reading of names, including the importance of maintaining decorum and respect throughout the proceedings. Graduands and their families are expected to remain seated, refrain from excessive noise or disruptive behaviour, and allow each graduate their moment of recognition without interruption. 'We do not condone disruptive behaviour during graduation ceremonies. Interrupting another graduate's moment whether through loud celebration or other forms of disturbance undermines the dignity of the ceremony and is considered disrespectful. Programme directors and name readers actively encourage respectful conduct from all attendees to ensure a memorable experience for everyone involved,' said Simangele Zuma, DUT media officer. 'Where audience noise becomes excessive, readers are instructed to pause and wait until order is restored before continuing. This helps ensure that each graduate's name is heard and their moment is honoured appropriately. However, names are typically not repeated unless absolutely necessary. 'The university has previously received feedback and complaints regarding noise levels at graduation ceremonies. These concerns informed the development of the newly-implemented SOP, which includes measures to manage and reduce disruptions during the proceedings. The goal is to preserve the decorum and celebratory spirit of the occasion while ensuring fairness and respect for every graduand,' she added. THE POST
IOL News
24-05-2025
- Lifestyle
- IOL News
Graduation expenses: what parents are willing to pay for their children's big day
Professional hair and make-up can be expensive. Image: Suzy Hazelwood/ FOR graduation day, many graduates and their families incur huge costs to make the day special. Some of the costs include clothing, hair, make-up, gown hire, and photography. Many parents said that making their children happy on their special day was their main aim, so the cost did not matter. Samantha Naicker, a single mother and content creator on TikTok (SassySam), showcased her daughter's graduation journey and spent R7 500 to kit out her daughter. 'When we add up all the costs, like hair, make-up and dress we were shocked to see it came out to R7 500. But it was a once in a lifetime experience and I was happy to see my daughter so excited. In my opinion, the cost was worth it as long as my daughter was happy,' said Naicker. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad Loading She said she had been saving for the occasion. 'My daughter worked hard to get her degree, so she deserved to receive the happiness and grandeur on graduation day. As a single mother, I always made sure my daughter had the best of everything,' she added. Jessica Raghunan said the cost of graduation was high. 'There is a big cost involved when getting ready for graduation. Putting an outfit together with the accessories may seem small in the beginning, but the costs were high in the end. But I did not count the costs. It made my daughter happy and that was what mattered the most,' said Raghunan. Annelissa Moodley, a graduate, said she tried to minimise the costs for her special day. 'I did not want my parents to be put in expense, so I decided to wear what I already owned. It was an outfit that I had worn for my cousin's wedding. I did my own make-up and hair. I don't condemn people spending large amounts of money for graduation but I just did not see the point. 'The make-up and hair would be washed off a few hours later and the dress packed away. It did not seem feasible to me. However, I did put a lot of effort in my appearance, as I do love doing my own make-up,' said Moodley. She said she was glad to have saved money with her clothes, but photography and gown hire were costly. 'I was not able to save money with photos and the gown hire since it was essential. I needed the memories of my day. Some things you cannot cut costs around, and I am happy that I spent money in the appropriate places while still making my day special,' said Moodley. THE POST
Gulf News
08-03-2025
- Health
- Gulf News
'I don't want a spa day': Why self-care conversations for women need to go beyond bubble baths and quick fixes
Self-care is often misunderstood as a rare act—something you do when you're finally burnt out, worn down, or feeling overwhelmed. But real self-care is a consistent practice, woven into your everyday life. Dubai-based Aafreen Jaffery, a sales professional, is a little fed up every time someone tells her to 'do some self-care with hair oils' after she expresses her exhaustion. 'It's always the same suggestion. Go for a spa day. Do your hair, nails, a manicure and pedicure. Yes, that's all very relaxing, but for starters, what does that fix?' There's a deeper conversation around self-care for women, that we're missing as she says. It's more than just a 'weekend of relaxation' and reclaiming the day. It's about creating a life that you don't need to escape from, adds Gayu Lewis, a Dubai-based integrative nutritionist and holistic health coach. Lewis continues, 'So many women juggle jobs, families, relationships, and obligations and putting themselves last. We tend to wear exhaustion as a badge of honour, as if busy is the equivalent of valuable. When we get a break, guilt follows. Somewhere along the way, we feel that it is selfish to take care of ourselves, when in reality, it's the only way we can keep showing up for everyone else.' And that's when burnout hits. 'Burnout doesn't happen overnight' It doesn't happen overnight. As Lewis says, it sneaks up on you. It starts with the little things, like waking up tired after sleeping all night, needing extra coffee just to get through the day, and forgetting why you went into a room, and tears spiralling out of control. Your energy crashes mid-day, you're snapping at everyone around you and you're tired, no matter how much sleep you get. Maliha Chatterjee, a Dubai-based physical explains, 'It weakens the immune system, making women more susceptible to infections and illnesses. A study in Psychosomatic Medicine showed that high levels of stress—one of the main contributors to burnout—are associated with lower levels of immune function, particularly in women.' When women experience chronic stress from burnout, their bodies produce more cortisol, a stress hormone that, over time, suppresses the immune system and leads to a higher likelihood of frequent colds, infections, and even chronic diseases. Furthermore, as Chatterjee explains, research suggests that burnout can cause significant hormonal imbalances. The constant stress associated with burnout increases cortisol levels, which can disrupt the body's normal hormonal regulation. Elevated cortisol can interfere with other key hormones, including those responsible for regulating metabolism, reproductive health, and stress management. So, what is the solution? As Lewis explains, women need a model that serves first to nurture, heal and give us what will last. 'The future of women's health has to be more about fixing symptoms. It's about prevention, and giving women the tools to care for themselves, before burnout. It's about employers who know a supported woman is more engaged, creative and productive. It's about shifting the culture from 'pushing through' to 'thriving'. Self-care is an ongoing practice, not a one-time event According to Chatterjee, 'Self-care is often misunderstood as a rare act—something you do when you're finally burnt out, worn down, or feeling overwhelmed. But real self-care is a consistent practice, woven into your everyday life.' It's about setting boundaries, saying no when you need to, and carving out time to prioritise your own well-being. It's about advocating for your needs, whether that means taking a break, asking for support, or taking a step back from things that drain you. So, how do you actually start? Movement as a form of self-care In a world where many women juggle work, family, and countless other responsibilities, finding time to move your body can be transformative. Physical activity isn't just about staying fit; it's about releasing built-up tension, boosting your mood, and increasing energy levels. Whether it's yoga, dancing, or a quick jog around the block, incorporating movement into your daily routine helps improve mental clarity and overall well-being, explains Chatterjee. The importance of social connections Chatterjee explains that self-care isn't a solo journey—your relationships and social connections play a crucial role in your mental and emotional well-being. Surrounding yourself with supportive individuals who uplift you, rather than those who drain your energy or make you feel guilty for setting boundaries, is essential. 'Investing in friendships, spending quality time with loved ones, and nurturing a supportive community are integral aspects of self-care,' she says. 'Meaningful social interactions provide emotional support, help you de-stress, and even challenge your thinking in ways that foster personal growth.' Saying no is a difficult form of self-care One of the most difficult forms of self-care, especially for women, is learning to say 'no.' It's easy to overextend ourselves, take on too many responsibilities, or say yes out of guilt or fear of disappointing others. But true self-care requires the ability to put yourself first when necessary. Setting healthy boundaries allows you to preserve your energy, reduce stress, and maintain balance in your life. 'Society conditions us to believe a lot of things, for instance, feeling guilty about taking a day off, wanting a break from the household, but people need to understand that you aren't the only one responsible in a household,' says Chatterjee. Rest and sleep are essential Sleep is often seen as a luxury—something that gets sacrificed for work, social obligations, or screen time. However, rest is one of the most important aspects of self-care. Sleep restores your body and mind, supports cognitive function, and strengthens your immune system. Prioritizing sleep isn't just about being well-rested; it's about acknowledging that your body needs rest to function at its best. So, while a bubble bath or a spa day can be a delightful way to unwind, self-care is so much more than that. It's a long-term commitment to prioritising your mental, emotional, and physical well-being. It's about setting boundaries, nourishing your body, cultivating meaningful relationships, and embracing rest. Self-care means listening to your inner voice, addressing your mental health, and allowing yourself the space to heal, grow, and thrive. And, you need the support of others around you to foster this sense of well-being, too. The next time someone mentions self-care, remember: it's not about the occasional indulgence; it's about living a life that nourishes your whole being. True self-care empowers women to be their best selves, not just in moments of rest, but in every aspect of their lives. Sign up for the Daily Briefing Get the latest news and updates straight to your inbox
