Haha, as always on moneyweb one could predict these comments before they appear. Classic.
A question for any Third Circle investors: What made you invest in the Fund? If you select a Fund and it goes pear-shaped through fund manager recklessness why should you be compensated? No body was forced to invest in the Fund and the woe-is-me attitude after the fact does not undo that you choose out of your own free-will to do this. If it was fraud then I understand why MetCI is taking some of the pain but it wasn’t.
I wonder how much they are going to milk the DTI who are very gullible and will probably put down all the money for the project. The assembly line could only be costing 50million, Mara must have over inflated the price and a few guys in government is going to get very quickly rich. So before they even started they have pocketed 2 billion.
How on earth are you going to compete with the Chinese. The price is in the semi conductors and the components and not the phone or the assembly. How did they come up with the price tag of $200 million. Dont tell me they are thinking about going into R&D and producing the semi conductors, battery and the screen which is almost impossible.
The transport factor to ship a phone from China to SA by container(24 000 pieces fit in a container with a value of 24 million and cost of shipment is 50 000.00) is probably 0.2% of the transport cost, how on earth are you planning on competing on price or unless they have a serious strategy that is a game changer or its game over for them.
There are certain things in life you dont need to get fascinated about and needs to be left untouched.
Good luck to the gullible.
When the media reports on this abuse of the system, please be sure to highlight the names of the advocates and the instructing attorney firm in big bold letters so that we can all take note of which parties to NEVER EVER use in any way shape or form.
You are known by the clients you choose to defend. Please do not come with the ‘everybody is entitled to a lawyer’ sob story. The lawyer chooses who he or she defends.
Why does anybody believe that the Pres can save SA? He was part of the JZ cabinet.I do not believe he word he utters. Escom just proved to-day we are still in the 2nd Industrial revolution proudly brought to you by the ANC.
Consents notes on my side. But these benefits are explained in your benefit guide and yet we still choose to ignore those email.
MSA is an amount given to the member upfront at the beginning of the year, and members are incontrovertible of that fund. We tend to misuse these saving to what best suits us. Then when they get depleted before time we want to say the scheme doesn’t want to cover. Perfect example: why do u have to do new glasses every year, who doesn’t know in this day and age that glasses are meant to last 24 months. Should you loose them once can claim them back because most of them come with free insurance.
We love buying over the counter medication, the scheme has a contract with pharmacies. Why not try paying cash and claiming it back from the scheme.
Did you know that cash patients are charged lower than medical aid patients?
On that note one also earns interest on their positive balances on MSA as listed on the Medical Schemes Act.
It’s an insurance for a reason.
Let’s not over look the fact that having a medical aid is security. Not everything will be covered for, these don’t just come out of the actuaries but each and every benefit gets approval from the council of medical schemes which legislates the governance of medical schemes …
There are rules every where, even in your own house you have rules. You can’t misuse something and expect to have it back.
Manage your medical savings well and one will get the rewards.
It is your money and believe in me you will earn interest according.
When one decides to go down to any plan that doesn’t have an MSA component, that money gets refunded to them.
I have received my benefit letter for 2020. I took time to read it, look at the changes on my plan type. Because at the end of the day, I would love to get the best out of my money.
Let’s not run away from responsibility.
There’s help if you don’t understand how you can utilize your medical aid well.
I love the comments
I would have to think back to around the year 2000 for Zimbabwe not to have been spiralling downward.
That would be why we have Zimbabwean tenants, and a Zimbabwean au pair and a Zimbabwean gardener working for us.
The ANC use Zimbabwe and Cuba and Venezuela as models for where they want to head in terms of “liberating” South Africa from the supposed shackles of western powers.
Cyril has to wear two hats. One to try to keep those who hold the money and assets (the westernised in South Africa – both white and black) happy and the other hat is to keep the ANC looters-in-waiting happy by allowing them to get trickle feeds of stolen funds in the mean time.
It isn’t an accident that Eskom is the biggest looting scheme that South Africa has ever known. It’s the easiest channel through which the ANC can loot from the state to keep funding it’s campaigns to stay in power while keeping their comrades-in-looting well-dressed in western brands.
The conflict is that the ANC has to keep in power by promising the poor, uneducated fools on the ground liberalisation and change – supposedly from the conditions that they are in now, while living the most hypocritical lifestyle possible by stealing from everyone in South Africa to be as western as possible.
The question is, who will be president once Cyril goes?
Look who make up the ANC NEC. Read the ANC policy plans.
Do you really think things will improve?
Really?
Make your decisions and plan now for what will inevitably come.
Deep down you all know that it’s going that way.
The land they owned now probably turned into desert
And bunches of them are still voting Zanu PF.
Talk about turkey’s voting for Christmas
Waiting with BATED (held) breath, not BAITED.
Wrong. They all pay taxes in the form of VAT etc etc.
Don’t confuse income tax with tax. I know it helps the victimhood agenda – but it simply isn’t true.
Lol, you guys get upset hey. “The system is flawed!” Well thanks for the insight!
Well spotted!
Travelling through Vietnam. Met a couple from Malaysia. For top end medical they pay US$150 pm for high quality private health care insurance. We pay way too much in SA and more people will dump this due high direct and indirect taxes.
They had more than enough to eat, low unemployment, the Rhodesian dollar was at parity to the UK pound in 1979, but still they took up arms against the Smith government. Today, starving, living in utter misery, they refuse to help themselves and do the same to the ZanuPF regime.
People get the government they deserve. No sympathy for those who refuse to help themselves.
I’ve never understood the idea behind the medical savings account. You give Discovery your money to keep, but they don’t pay you any interest and charge you for the privilege of administering your own money. Why not just put the money in your bond or credit card, and then at least reduce your interest payments, as opposed making Gore and his cronies even richer?
Kieswetter doesn’t get it. It is not only that taxpayers don’t trust SARS (that too) but that we actively despise the cadres who will receive the money we pay over to SARS. One could make a strong case that paying tax is the same as aiding and abetting crime. If you give money to a drug addict who’s begging in the street, you know he’s going to harm himself and commit crime by buying more drugs. Likewise, paying your taxes is knowingly aiding and abetting fraud and corruption.
2000 – IT bubble
2008 – Property bubble
???? – Medical bubble
When any democratic government uses its political power to influence the actions of the Reserve Bank, then it is inevitable that the value of the currency will reflect the value of the intellectual capacity of the average voter. This phenomenon is playing itself out in Zim.
There is only one person standing between the value of the rand and that of the Zim currency, and that is the proudly and fiercely independent Governor of the South African Reserve Bank. If it was not for this man, the value of the rand would have been a true representation of the mindset of the average voter. If that fact scares the living daylights out of you, then you are a well-informed realist.
SARS shows the symptoms of the highly contagious socialist disease. Everybody wants the privileges and advantages offered by socialism, but nobody wants to bear the costs. Those who have o fund the socialist ideals emigrate to jurisdictions where property-rights are respected. Only the beneficiaries of the socialist ideals remain behind. We have a world-class revenue service without any taxpayers. We have a world-class social grant system that is running out of funding. We plan a world-class National Healthcare Insurence while there is nobody left to pay the premiums.
We reached our Margaret Thatcher moment – many socialists, no money.
“House of Monopoly”? Nobody can complain that the warning signs weren’t visible!
Result of utter incompetence, rampant corruption and stubborn clinging to bygone ideologies.
Sigh, this old myth again. Yes tax RATES were at 70% during the early 19th century in the US, but no one actually paid it. Tax calculations weren’t ring-fenced like they are today and there were tons of loopholes and exlusions.
https://www.aier.org/article/the-rich-never-actually-paid-70-percent/
“Its findings show that this group’s effective income tax rate in the 1950s was only slightly higher than today: 42 percent versus 36.4 percent”
Want to see what happens when you have punitive and excessive tax rates on the wealthy? Take a good look at France doing this just a few years ago. Thousands of millionaires left and they raised mere fractions of the tax bounty they were expecting. It was such a spectacular failure, the country was forced to reverse this policy just a few years later.
Wealth has gone global and places like Singapore with its flat and capped tax rate will gladly welcome all the wealth assets to their shores. This while the countries that persecute the wealthy now get 0% instead of the 20-30% they could have had.
This narrative is all being driven by leftist governments that keep promising more and more freebies, while refusing to reign in excessive government spending and exploding debt.
What does Discovery say about the loss of high end cover customers? How much of this is attributable to the mass exodus of HNW people that can “afford” to escape? Same applies to private schools – see Curro as a case in point.
Tax base, property base, financial contributors to the efficient running of SA inc are bailing where they can, it’s only going to get worse until the incumbent government make noticeable changes for the better.
When a country like SA goes down the road of over taxing the wealthy, they leave, along with the money they spend, the jobs they create and the Vat they pay. Ask yourself this, as high net worth individuals surely do, what does a country really offer for the tax I pay?
South Africa can either have a successful economy, or it can have the ANC government and these useless, militant unions. Unfortunately for us, there is no Maggie Thatcher waiting in the wings to destroy these parasites.
Discovery management are driven by “THE NEED FOR GREED”!
IN 1991 the listed group that I was at decided to change to Discovery. I prevented the group from making the switch as my wife had been diagnosed with Multiple Scleroisis and at the time we had a night nurse fully covered by the old scheme.
1. it took Discoveryless than 5 working days to amend the rules so that they could take on over 1500 new members!
2. two years later they amaended the rules! ” discovery would only cover a nurse if you could prove that the member required medication via injection! so that benefit was terminated.
3. a few years later a call centre agent made contact to advise me that Discovery would no longer provide certain medication on the “Chronic Scheme” as it was deemed , by the Medical Panel, to be of an “experimental nature” and therfor in terms of the rules not covered! NB MULTIPLE SCLEROISIS – there is no known cure and everything around the treatment is Experimental.
4. we had the services of a “home nurse” facility who changed my wife’s catherter in the comfort of her home. discovery paid this for a couple of years. suddenly discovery refused to pay unless I used a hospital! this was despite th cost being three times higher than the home based service!
unfortunately I had to suck it all up! I was able to provide a level of care despite Discovery’s best effort to put stumbling blocks in our path.
The general theme at Discovery is:
a. chnage the rules/cover – up the profit1
b. change the algorithim on Discovery Vehicle Insurance – up the profit! my personal experience here – third party drives into me and at renewal my premium increased by 40 % as i am perceived to be a risk!!
c. Vitality Programme – change the rules – up the profit!
if there was an alternative I would be first in line!
If, the promised high return does not say it is a pyramid scheme or Ponzi, this text below ‘become a member today’ tells you that it passes a duck test:
“Double you’re Investment* by filling in our membership form.”
This wrong spelling of a simple English word like ‘you are’ is a telltale sign of most Ponzi scheme and typical of most scams.
If you aren’t drinking yourself to sleep every night at the state of the country then you must be using something stronger.Then again the ANC and Eskom don’t seem to care so why are we bothering.