Daily Podcast - July 22, 2024

For Creamer Media in Johannesburg, I’m Thabi Shomolekae.
Making headlines: Ramaphosa signs law allowing savers access to pension funds; AfriForum urges ConCourt to declare Hlophe’s appointment unlawful; And, ActionSA assumes role of ‘constructive opposition’ in Joburg, calls for Gwamanda’s removal
Ramaphosa signs law allowing savers access to pension funds
President Cyril Ramaphosa has signed a law that will give savers early access to part of their retirement funds.
The president’s assent of the Revenue Laws Amendment Act establishes a so-called two-pot pension system that gives members access to their retirement funds without having to resign or cash out entire pension funds.
The Presidency said the act requires pension funds to amend their rules, adjust their investment portfolios and prepare administrative systems for pension-fund members to apply to access portions of their pension funds” from September 1.
The National Treasury said in April it expects savers to withdraw about R28-billion from their pension funds once the system revamp is implemented.
The signing of the legislation allows the Financial Sector Conduct Authority to approve changes to the rules of a retirement fund, which will enable the implementation of the two-pot system, the Association for Savings and Investment South Africa said.
AfriForum urges ConCourt to declare Hlophe’s appointment unlawful
Civil rights organisation AfriForum said it has applied to the Constitutional Court asking it to declare that uMkhonto Wesizwe Party Parliamentary leader Dr John Hlophe’s appointment is “irrational, unlawful and in conflict” with the National Assembly’s constitutional duty.
Earlier this month, impeached former judge president of the Western Cape Hlophe was nominated by the MK Party to serve in the Judicial Service Commission.
Hlophe is the first judge to be removed from office by the National Assembly, after the JSC found him guilty of dishonesty and gross misconduct.
AfriForum CEO Kallie Kriel noted that the organisation had started legal proceedings to challenge Hlophe’s appointment, highlighting that it had already served its court documents electronically on the Speaker of Parliament Thoko Didiza, Hlophe and the MK Party.
Kriel said it is essential that AfriForum fights Hlophe’s appointment to the highest court, because his presence in the JSC seriously undermines the credibility and independence of the judiciary, while it also undermines the rule of law.
He highlighted that by appointing Hlophe, the National Assembly not only “neglected” its constitutional duty, but “acted directly contrary” to the Constitution.
And, ActionSA assumes role of ‘constructive opposition’ in Joburg, calls for Gwamanda’s removal
ActionSA president Herman Mashaba announced today that his party will adopt the role of “constructive opposition” in the City of Johannesburg, noting that instabilities have persisted in the coalitions in the City of Ekurhuleni and the City of Johannesburg.
He highlighted that City of Johannesburg Mayor Kabelo Gwamanda’s tenure had been an “unmitigated failure with evidence of the downward spiral” in Johannesburg.
He explained that to facilitate the constructive opposition role, the party would take up a number of positions in the legislature so that it would have a platform to hold any new government to account.
Mashaba pointed out that the party supported the removal of Gwamanda, and the immediate reversal of the R200 surcharge his party says was “heartlessly imposed” by City Power on prepaid users.
He said the party also wanted to produce a series of motions to position the City to turn around key frontline service delivery matters including infrastructure renewal and rejuvenating of the inner City.
Mashaba explained that party’s support would be available to any government in the metro on an issue-by-issue basis, emphasising that this arrangement was not a coalition.
That’s a roundup of news making headlines toda...