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A STAGGERING 94% of those surveyed in a recent Debt Rescue study by debt counselling firm Debt Rescue experienced a cash shortage during the past year.

This could in large part be because a noteworthy 34% of the 1 300 South Africans polled in March and April reported losing their jobs in the pandemic. Neil Roets, the chief executive of Debt Rescue, says a silver lining, if one can call it that, of Covid-19’s impact is that the majority (83%) of those surveyed had initiated a conversation with their family about money management, while 61% had put a money plan in place.

THE Financial Sector Conduct Authority (FSCA) warns against dealing with Glamwell Funeral Services or with an individual named Neil Hanekom. The authority says Glamwell Funeral Services is conducting insurance business illegally without an underwriter, and it is not authorised under the Financial Advisory and Intermediary Services Act to render advisory and intermediary services. Hanekom claims he is a tracing agent from the FSCA and is able to assist retrenched and former corporate employees with unemployment benefit funds, undeclared leave pay, retirement funds and unclaimed insurance policies. Hanekom is not employed by or contracted to the FSCA and has no authority to offer such services.