Latest news with #R260
TimesLIVE
6 hours ago
- TimesLIVE
Money-saving tips that will keep you warm this winter
Smart home systems can help you monitor your home appliances, how much power they draw and when they should best be used By With temperatures dropping and electricity bills on the rise, one of the surest ways to tell winter is here is your bank account. Recent studies have found that household consumption can spike by at least 20% in colder months due to heating alone. Engineering executive at CBI-electric: low voltage, Dr Andrew Dickson, says Eskom's 12.74% tariff increase means that the average family cold pay an extra R300 per month. To help households stay warm without burning through their budget, he offers 10 smart home tech tips: 1. UNDERSTAND YOUR ENERGY HABITS If you don't know how much electricity your appliances are using, you won't know where to cut back. Take an oil heater, for example. Running a 2,000W heater for eight hours a night could use up to 16 kWh per day, costing around R260 a week at current rates. Over three months, that's more than R3,000 for just one room. Smart devices help track usage so you can cut back where it counts. 2. AVOID ENERGY OVERLOAD Some smart home systems offer load management, which ensures that only one high-energy appliance runs at a time, reducing the peak demand. Smart automation can stagger appliance use, ensuring each runs at optimal times without straining the system. 3. SET SMART TIME LIMITS Users can specify the operating duration of appliances, like running the geyser for only two hours to save electricity while ensuring a hot bath. 4. TIME IT RIGHT Smart home technologies give users the ability to schedule when appliances turn on or off. 5. CURB THE WINTER SPIKE Even with flat rates, household consumption climbs during winter as heaters, underfloor systems and electric blankets work overtime. Smart home devices can help by setting on/off schedules and limiting how long appliances run. 6. LET THE WEATHER DECIDE Smart home technologies can respond to real-time environmental conditions, such as temperature drops, reduced daylight or even changes in humidity, to automatically control appliances. For instance, if the sun sets earlier on a gloomy winter afternoon, lights can be set to turn on. 7. CONTROL ENERGY FROM ANYWHERE: Worried you left a device switched on? Smart home technologies allow users to turn connected appliances off with their smartphone and/or tablet from anywhere in the world. 8. STOP PAYING FOR SLEEP MODE: When in standby mode, electronic goods like microwaves, computers, televisions and coffee machines can consume even more electricity than when they are in use, as they are often only active for relatively short periods. While the obvious solution would be to unplug all non-essential appliances when inactive, smart home tech lets users switch off any items that are pulling power unnecessarily. 9. SAFEGUARD YOUR SOLAR INVESTMENT: As more South Africans invest in rooftop solar, not only for backup but to reduce reliance on the grid and cushion the impact of rising electricity costs, smart home technology can play a role in protecting that investment. Smart power indicators, for example, help solar PV users manage energy more effectively when grid power is unavailable, by disconnecting non-essential appliances and preserving battery life until the system recharges. They can also automate other smart devices to keep essential infrastructure, such as security systems, operational. By allowing users to switch off high-consumption appliances such as geysers and pool pumps, smart indicators help prevent system overload and extend battery performance. 10. PROTECT YOUR APPLIANCES: Even though load-shedding has largely eased, occasional voltage fluctuations and power surges still pose a risk to household appliances, especially in areas with ageing infrastructure or after storms. Smart home technologies can help protect your devices by allowing you to set a safe operating voltage range. If the voltage falls outside this range, the system can automatically switch off the flow of electricity until it stabilises, reducing the risk of damage to costly items like fridges, TVs and Wi-Fi routers.
The South African
5 days ago
- Business
- The South African
FIND the nearest SASSA branch to you
Don't worry if you're trying to find the nearest SASSA branch to you. Last month, SASSA announced its latest initiative to protect against fraud and corruption. It's basically cancellation without review, and if you're one of the approximately 200 000 recipients affected, you must report to the nearest SASSA branch to rectify the situation. The above proceedings are all in the name of double-checking and confirming 'core' grant eligibility. Therefore, if your finances appear to be underquoted or any personal details don't align, you will have to visit the nearest SASSA branch to clarify matters urgently … Knowledge is power, so don't be caught short if SASSA needs to contact you. Image: File As such, we've received hundreds of messages on our WhatsApp line, asking about the best South Africa Social Security Agency branches to visit. Of course, queue times are terrible. And you can always try using the SASSA online portal that may or may not be offline when you try logon. The agency is hopelessly undersubscribed, handling 28-million clients (45% of the population) and being responsible for R260 billion annually. Unbelievably, even the elderly, those with disabilities and parents with young child dependents must visit the nearest SASSA branch in person for even basic transactions. This is particularly difficult for those that live in remote, rural areas or require full-time care. Making such trips requires a lot of time, money and effort to visit a nearest SASSA branch. The three-month review process is still in operation, even if certain 'core' clients experience delays in June 2025 payment. Image: File At last count, the agency claims to have 390 local offices. In addition to these, there are several satellite offices. Remember that all SASSA branches and offices are open from 08h00 to 17h00 Monday to Friday. Check out our comprehensive list of SASSA offices per province, including all contact details: SASSA BRANCH ADDRESS PHONE NUMBER SASSA House (Head office) 501 Prodinsa Building, Cnr Steve Biko and Pretorius Streets, Pretoria 0800 60 10 11 SASSA Eastern Cape BKB Building, Cnr Fitzpatrick and Merino Road, Quigney, East London 043 707 6300 SASSA Gauteng 28 Harrison Street, Johannesburg 011 241 8320 SASSA Mpumalanga 18 Ferreira Street, Nelspruit 013 754 9446 SASSA Limpopo 43 Landros Mare Street, Polokwane 015 291 7509 SASSA North West 1st Industrial Site, Mahikeng 018 388 4006 SASSA Free State Cnr St. Andrew Street & Aliwal Street, Bloemfontein 051 410 8339 SASSA North West Perm Building, 33 Du Toitspan Road, Kimberley 053 802 4919 SASSA KwaZulu-Natal 1 Bank Street, Pietermaritzburg 033 846 3324 SASSA Western Cape Golden Acre, Adderley Street, Cape Town 021 469 0235 * Info courtesy of SASSA Be sure to diarise SASSA grant payments all the way to March 2026. Image: SASSA As the agency if forced to tighten its belt by government, SASSA reminds beneficiaries to check all their pertinent details up to date. This includes banking and personal information, which is cross-referenced monthly with SARS, banks and the DHA. And you must respond quickly to any verification requests. In turn, if you have not received payment, contact your nearest SASSA branch as soon as possible to resolve the issue. If all else fails, you can always try: SASSA toll-free number: 080 060 1011 . . SASSA WhatsApp number: +27 82 046 8553. Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1. Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
The South African
6 days ago
- Business
- The South African
WHY you have to let SASSA know if you move in 2025
Here's why you absolutely have to let SASSA know if you move. As of last month, the agency was empowered by government to stop paying any questionable grant beneficiaries without review. As such, SASSA started with anyone not using a 13-digit SA ID number on their profile. Likewise, if you do not let SASSA know if you move, or have an incomplete profile, you also run the risk of non-payment. It's been a forgettable year for the agency, that's battled with budget unknowns, Postbank failures, and ongoing fraud and corruption problems. Nevertheless, it says this tougher verification initiative is working in the fight against fraud. So, here's why you absolutely have to let SASSA know if you move, or risk non-payment of your grant without review … Be sure to alert SASSA know if you move so they don't suspect anything untoward with your grant. Image: File The South African Social Security Agency pays grants to 45% of the population, with a budget of more than R260 billion annually. That's a lot of money, data and addresses it needs to keep track of. Therefore, to eliminate any system inefficiencies the agency will flag any untoward accounts with immediate effect. The agency cross references all major beneficiary information with the Department of Home Affairs, South African Revenue Service and your bank. This includes, but is not limited to, your listed address and monthly income. Of course, if you misrepresent yourself and/or your financial means, you risk being removed from the SASSA grant list, without review. SASSA grants make up the second highest portion of the national budget. As such, it's important the government safeguards its investment. Image: File Thankfully, to let SASSA know if you move, you do not need to re-register as a 'core' beneficiary. However, if and when you do move – whether it's just down the street or to another part of the country – you must let SASSA know if you move. You can do so via the following official SASSA channels: SASSA toll-free line: 0800 601 011 Head Office of SASSA: 012 400 2322 Email SASSA: grantsenquiries@ The agency is pretty poor at answering its phone, so you may want to visit a SASSA branch in-person. Just be ready to wait a longtime in the queue. Take note of the payment dates for the rest of 2025 and into 2026. Image: SASSA Moreover, if the agency suspects something untoward and does select you for a SASSA grant review, it must do so with three-months written notice ahead of the review date. This will allow you to prepare yourself and ensure your finances and personal information are in order. As always, here are some hard and fast rules that will see your SASSA grant overturned: You misrepresented yourself/your finances in your grant application. If it comes to light that you're earning more than the monthly income threshold. You acquire new assets that put you beyond the asset limit. If you haven't claimed your grant for three consecutive months . . You have left the country and no longer permanently reside in South Africa. If you move to and are cared for in a state-funded facility. You passed away. Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1. Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
IOL News
28-05-2025
- Business
- IOL News
Insights from Liberty's 2024 claims statistics: a closer look at health trends and financial protection
Liberty has announced a substantial increase in claims payouts for 2024, totalling R7.35 billion, with insights into health trends and the importance of risk protection for policyholders. Image: IOL Liberty has revealed its claims payouts for 2024, showing a significant increase in benefits paid to policyholders and their families. The majority of claims came from the insurer's flagship retail cover, Lifestyle Protector, which paid out a total of R7.35 billion to 28,889 individuals and beneficiaries. On average, each claimant or their family received R260,000 over the year. According to Liberty, its Corporate Benefits also made substantial payments, with R2.6 billion going to 11,198 individuals. Claims from Liberty's funeral and credit life products, some of which are sold via Standard Bank, contributed a further R1.99 billion to the total payout. The insurer's annual Claim Statistics offer insights into health trends, economic challenges, underinsurance, and industry shifts, highlighting the tangible value of Liberty's risk protection products. 'Our personal risk claim payouts show an increase of 11.8% from 2023. This demonstrates our range of risk protection benefits and the true value delivered by insurance and corporate benefits in a time when South Africans are overburdened by life's challenges. The payouts provide those affected and their families with financial resources to navigate adversity with confidence in their most vulnerable moments. This assistance goes a long way towards protecting what matters most,' says Mark Barberini, head of comprehensive life solutions at Liberty. Across Liberty's Lifestyle Protector range, it said there was notable growth in claims across all major categories. Life Protection payouts increased by 9.5% to R5.5 billion, Lifestyle Protection surged by 20.4% to R1.2 billion, while lump-sum Income Protection claims climbed by 18.5% to R507 million. Monthly income protection claims rose by 11.6% to R267.3 million. Although life claims made up the bulk of payments, the increase in claims under Lifestyle Protection benefits suggests that people are surviving longer with critical illnesses. Early detection and quicker access to treatment have played a role in this trend, reinforcing the need for living benefits and frequent preventative medical screenings. 'Insights like these point to a need for more comprehensive lifestyle protection cover, as death and unexpected medical diagnoses are not the only risks that can have a significant effect on your family and lifestyle. Unexpected life events, such as retrenchment, can also have a serious impact,' says Andrew Methmann, Liberty's chief specialist for Risk Pricing. As anticipated, the group says most claims came from older clients, with the average age at claim being 60 for women and 64 for men. However, 25% of male claimants were under 55, while 35% of female claimants were younger than 55.'With 2.2% of claims coming from individuals under the age of 35, it is evident that death, disability, and critical illness can affect anyone, regardless of age, and happen unexpectedly. It is important to encourage younger people to take out cover while they are still young and also in better health, potentially making their risk cover cheaper,' Methmann says. According to the group, in 2024, men accounted for 64.8% of overall claims, while women made up 35.2%. Liberty's client base is nearly evenly split between genders, yet a larger proportion of male clients are older, making them more likely to claim. Cancer remained the leading cause of claims, accounting for 31.2% overall, followed by cardiovascular disorders (22.3%), respiratory disorders (5.8%), musculoskeletal disorders (5.5%), and nervous system disorders (5.3%). Among women, cancer caused 37.2% of claims compared to 27.9% for men. 'The higher prevalence of cancer among women can be attributed to the high incidence of breast cancer among South African women. Notably, 46.9% of cancer-related claims submitted by women were for this specific form of the disease. For men, the most common cancer was prostate cancer, accounting for 31.9% of male cancer claims,' says Liberty's chief medical officer, Dr Reinhardt Erasmus. Musculoskeletal disorders were the primary cause of income protection claims, making up 22.7%, followed by cancer at 16% and retrenchment at 9.9%. Chief specialist for Liberty's lifestyle protector cover, Kresantha Pillay, notes that while retrenchment claims declined in 2024, the importance of income protection remains critical. 'In 2024, most retrenchment claims occurred in the 35 to 44 age band, with 38.6% of claimants being female and 16.8% male. Overall, 64.4% of retrenchment claims were from women, whilst 35.6% were from men. This reveals a stark contrast in retrenchment claim trends, showing that in 2024, women filed nearly twice as many retrenchment claims as men. This signals a troubling imbalance in job security and underscores the critical need for income protection among women, highlighting the urgency for them to explore tailored financial solutions and safeguards,' says Pillay. Gauteng recorded the highest number of retrenchment claims at 47.5%, followed by the Western Cape at 28.7% and KwaZulu-Natal at 14.9%. Serious mental disorder claims made up 2.8% of all retail claims, with 51.1% of these being life protection claims. Tragically, suicide accounted for the majority of these. Liberty paid out over R1.3 billion in funeral claims, assisting 80,345 families in honouring their loved ones, the group says.
The Citizen
27-05-2025
- Business
- The Citizen
Liberty pays out R600 million for two-pot retirement system in 2024
Liberty announced its claims statistics for 2024 today, showing it paid out more than R12 billion in 2024 for 120 000 insured lives. Liberty Corporate Benefits received 62 000 applications from clients to withdraw funds from their saving pots under the two-pot retirement system in 2024. The financial services company says it paid out R600 million to 48 600 of clients who were ultimately approved, after R155.6 million was deducted for tax purposes. Overall, the majority of claims came from Liberty's Lifestyle Protector cover which paid out R7.35 billion to 28 889 individuals and their beneficiaries, with an average payment of R260 000 to each person or their families who claimed during the year. Liberty Corporate Benefit's claims payouts for 2024 amounted to R2.6 billion, paid to 11 198 individuals. Claims from Liberty's funeral products and credit life products (partly sold through Standard Bank) made up the remainder of the total claim payouts, amounting to R1.99 billion. Mark Barberini, head of comprehensive life solutions at Liberty, says their personal risk claim payouts show an increase of 11.8% from 2023. Life cover dominates claims in 2024, with increases in claims across all four key pillars of the business last under Liberty's Lifestyle Protector suite. Life Protection payouts increased by 9.5% to R5.5 billion, Lifestyle Protection increased by 20.4% to R1.2 billion, Income Protection lump sum payouts increased by 18.5% to R507 million and monthly income protection payouts were up 11.6% to R267.3 million. ALSO READ: How to ensure that your future life insurance claim is paid out Liberty claims show people live longer with critical illnesses While life claims made up the bulk of payments, the dramatic increase in claims from Lifestyle Protection benefits demonstrates that people are living longer with critical illnesses. One reason is that they receive treatment more promptly based on earlier detection, which highlights an increased need for living benefits and more regular preventative medical screenings. 'Insights like these point to a need for more comprehensive lifestyle protection cover, as death and unexpected medical diagnoses are not the only risks that can have a significant effect on your family and lifestyle. Unexpected life events, such as retrenchment, can also have a serious impact,' Andrew Methmann, Liberty's chief specialist for risk pricing, says. As expected, the majority of claims were from older clients, with the average age at claim being 60 for women and 64 for men. However, 25% of claims were from male clients under 55 and 35% for female clients under 55. 'With 2.2% of claims coming from individuals under the age of 35, it is evident that death, disability and critical illness can affect anyone, regardless of age and happen unexpectedly. It is important to encourage younger people to take out cover while they are still young and also in better health, potentially making their risk cover cheaper,' Methmann says. ALSO READ: Why trust is so important when it comes to life insurance More men claimed from Liberty than women In 2024 Liberty saw a much higher proportion of overall claims coming from men (64.8%) than from women (35.2%). While Liberty's client base is split almost equally between men and women, one of the reasons for this gap could be the fact that a larger proportion of these men are older and more likely to claim. The top causes of claims were cancer (31.2%), cardiovascular disorders (22.3%), respiratory disorders (5.8%), musculoskeletal disorders (5.5%) and nervous system disorders (5.3%), accounting for 70.2% of all claims among all benefits. While cancer was the leading cause for claims among men and women, 37.2% of women claimants claimed for cancer, compared to 27.9% for men. Dr Reinhardt Erasmus, Liberty's chief medical officer, says the higher prevalence of cancer among women can possibly be attributed to the high incidence of breast cancer. 'Notably, 46.9% of cancer-related claims submitted by women were for this specific form of the disease. For men, the most common cancer was prostate cancer, accounting for 31.9% of male cancer claims.' ALSO READ: It pays to be honest with your life insurer Income protection claims mainly due to musculoskeletal disorders The number one reason for income protection claims were musculoskeletal disorders at 22.7%, followed by cancer at 16% and retrenchment at 9.9%. Kresantha Pillay, chief specialist for Liberty's Lifestyle Protector cover, says although retrenchment claims have come down from 2023 to 2024, the need for adequate income protection cannot be emphasized enough. 'In 2024, most retrenchment claims occurred in the 35 to 44 age band, with 38.6% from women and 16.8% from men. Overall, 64.4 % of retrenchment claims were from women, while 35.6% were from men. 'This reveals a stark contrast in retrenchment claim trends and shows that in 2024, women filed nearly twice as many retrenchment claims as men. This signals a troubling imbalance in job security and underscores the critical need for income protection among women, highlighting the urgency for them to explore tailored financial solutions and safeguards.' ALSO READ: Think twice before switching your life insurance Claims for serious mental disorders and suicide Claims for serious mental disorders made up 2.8% of all retail claims in 2024. Of this percentage, 51.1% of these claims were for life protection benefits with the remainder for living benefits. The tragedy of suicide accounted for the majority of these life protection claims. Payments for income protection claims increased by 4% to R927 million. Labour-intensive manufacturing, distribution and wholesale industries accounted for 22% of total claims, largely due to a higher frequency of injuries. 'Most of these injuries related to the musculoskeletal system. This experience extended into the lump sum disability benefit where musculoskeletal related claims contributed to the 70% increase in total claims paid, bringing the amount to R142 million,' Mangaliso Nxasana, actuarial manager at Liberty Corporate Benefits, says. At least 18% of income protection claims came from the financial, professional and support services sector. Nxasana says most concerning here was a high number of psychiatric disorder and neurological disorder claims, suggesting that the work environment may be contributing to mental health challenges amongst employees. 'Factors such as high stress, long working hours, job pressure and the fast-paced nature of these industries could be key drivers of these mental health issues in the office environment.'
