An emergency meeting of the “Insaf Di Awaaz” organisation was held at Gurdwara Shaheed Ganj Sahib in Phagwara, under the chairmanship of the Assembly constituency president Dr Paramjit Singh Kotli. State committee member and Punjab General Secretary, Jodh Singh Thandi, was present as a special invitee.

During the meeting, members discussed intensifying their struggle for the recovery of the investments of citizens trapped in the Pearl Group and various other chit fund companies. Addressing the media after the meeting, Dr Kotli announced that following a call given by the national president of the organisation, Mahinder Pal Singh Dangarh, Pearl scam victims from across the country will stage a massive protest in front of the Ministry of Finance in New Delhi on November 26.

He stated that all members present in the meeting unanimously agreed to participate in the protest. Dr Kotli further recalled that Dharamvira Gandhi, Member of Parliament from Patiala, had raised the issue of the Pearl Group scam in Parliament last year, questioning Finance Minister Nirmala Sitharaman regarding the return of the huge amounts owed to investors.

Kotli alleged, “However, the Finance Minister misled the House by claiming that the money is available, but no claimants have come forward, despite investor data being fully available online.”

He added that due to persistent pressure from investors over the years, the Central Government has only recently initiated partial refunds to small investors, but the pace of reimbursements remains extremely slow.

“Large investors have not received a single rupee so far, leading to growing anger and frustration. The government’s reluctance clearly shows that it is not serious about returning the hard-earned money of the people,” he said.

Dr Kotli appealed to all participating investors to carry photocopies of their Pearl policy bonds during the demonstration in Delhi.

Prominent members present at the meeting included Bimla Devi Chak Hakim, Dr. Kulwinder Jassal Bhakhriana, Satya Khati, Kulveer Singh Khaliyaan, Manjeet Kaur Manak, Harbhajan Lal Mukandpur, Ashok Kumar Rawalpindi, Jaswinder Kaur Virk, Manjeet Kaur Virk, Sukhdev Kumari, and Praseen Kaur Chak Prema.

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If a parent passes on money from their super and their child is not classified as a dependent under the tax rules, they could pay up to 32 per cent on the balance of the super fund.

For example, if they inherit $500,000 in superannuation money, you could be paying tax of up to $160,000.

In most cases, one spouse is going to nominate everything to the other spouse in the event of their passing. At that point, there is a “big tax saving that people forget about,” Vogiatzis said.

“If that person passes away with their super, their children will pay tax on it,” he continued. “[But] in most cases, they’re over 65 which means they can just withdraw everything.”

They can give their children a cash gift which won’t be taxed. “It can an save you hundreds of thousands of dollars… A lot of people don’t know about it.”

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It can be a tricky thing to time, however. While super is in the pension phase there’s no tax payable on the earning of the fund (below $1.9 million) but if you cash it out, then the earnings on that money are now in a taxable environment.

“You don’t want to cash out too early, but that is a strategy,” Vogiatzis said.

The Productivity Commission previously estimated that $3.5 trillion would be passed on from Aussies aged 60 and over by 2050. More recent JBWere figures put the figure at $5.4 trillion over the next 20 years. A good chuck on that will come from superannuation balances, but exactly how it’s passed on will determine how much the ATO ultimately rakes back in.

Financial advisors are licking their lips as more Australians face these difficult decisions, with a recent report by the Super Members Council finding the “general complexity” of the system is leading to “decision paralysis” among retirees.

It comes as the number of retirees in the country is set to double, jumping to about 2.8 million people in the next decade. About 10 years ago, 150,000 people would retire each year. But soon this number will jump to 300,000 per year, a trend described as the “silver tsunami”.

Meanwhile Finder research found 41 per cent of Aussies – equivalent to 8.8 million people – expected to receive an inheritance.

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One in 10 said they were depending on an inheritance to achieve major financial goals like buying a house or retiring, while one in five said it will significantly improve their financial standing but they weren’t solely dependent on it.

Unlike other countries like the UK and US, Australia has no federal inheritance tax.

There have been growing calls to introduce such a regime, with the Australia Institute in August calling for an inheritance tax with the group’s senior economist telling Yahoo Finance it could help bring in as much as $10 billion a year for government services.

However a poll of more than 4,400 Yahoo Finance readers found nearly three quarters of respondents were totally against bringing back any form of inheritance tax.

Get the latest Yahoo Finance news – follow us on Facebook, LinkedIn and Instagram.

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Vero Finance Technologies

Vero expands internationally with its first Australian client, bringing next-generation systems to support the expansion of Soda Capital’s wholesale financing platform.

NEW YORK, NY AND BRISBANE, AUSTRALIA / ACCESS Newswire / November 12, 2025 / Vero, a leading provider of technology systems for the asset finance industry, is excited to announce its strategic partnership with Soda Capital, Australia and New Zealand’s fastest-growing non-bank lender specializing in floorplan and distribution finance. This marks Vero’s first international expansion, as the company continues to pursue opportunities across EMEA and Asia-Pacific to transform asset finance through automation and technology.

The system went live at the beginning of the month after a comprehensive migration and delivery process supported by both teams.

Driving Smarter, More Efficient Floorplan Finance

Soda Capital has built a strong reputation for providing fast, flexible, and transparent financing solutions for manufacturers, distributors, and dealer networks. As it scales, the company is investing in best-in-class technology to optimize its lending operations. By integrating Vero’s innovative platform, Soda Capital will:

• Automate key workflows in loan origination, servicing, and portfolio management.

• Enhance risk monitoring with real-time data insights and asset-level tracking.

• Accelerate decision-making to streamline dealer funding and improve operational efficiency.

Empowering Growth Through Embedded Finance

Floorplan financing is evolving rapidly, requiring data-driven decision-making and seamless integration into the broader ecosystem of manufacturers, suppliers, and dealers. Through this partnership, Vero’s end-to-end lending platform will enable Soda Capital to:

• Provide more self-service tools for their dealer clients, ensuring real-time visibility into asset performance.

• Optimize credit risk management, proactively identifying potential exposures and reducing inefficiencies.

• Introduce more dynamic program structures, ensuring they can meet the ever-evolving needs of their vendor and dealer partners.

A Shared Vision for the Future of Asset Finance

Both Vero and Soda Capital are technology-first, agile, and forward-thinking organizations that are reshaping the landscape of wholesale financing. With this partnership, Vero will continue to serve as an extension of Soda Capital’s IT team, ensuring continuous innovation, automation, and operational enhancements as its platform scales.

“Expanding globally has always been part of our vision, and Soda Capital represents the perfect partner for us to enter APAC market. Their commitment to leveraging technology as a differentiator aligns seamlessly with Vero’s mission to modernize floorplan lending, and we’re thrilled to support their next phase of growth.”
– John Mizzi, CEO, Vero

“Our business is built on speed, transparency, and technology, and Vero’s platform allows us to take that to the next level. With Vero’s expertise in purpose-built solutions for our industry, with a focus on automation and the user experience, we’re confident that we can scale more efficiently while continuing to provide best-in-class financing solutions to our partners and clients.”
– Jordan Edwards, CEO, Soda Capital

About Vero

Vero provides an end-to-end SaaS and servicing platform designed to streamline wholesale, supply chain, rental and fleet financing. The modular platform supports every function across a lenders organization with process automation, analytics, and workflow management systems. Vero enables lenders to grow efficiently, reduce manual work, and enhance borrower experiences.

For more information, visit www.vero-technologies.com.

About Soda Capital

Soda Capital is a non-bank lender specializing in floorplan and distribution finance for manufacturers, distributors, and dealer networks. By offering fast, flexible, and innovative financing solutions, Soda Capital empowers businesses to scale efficiently and access the capital they need to succeed.

For more information, visit www.sodacapital.com.

Contact: Jason Bartz, info@vero-technologies.com, 404-383-7048

SOURCE: Vero Finance Technologies

View the original press release on ACCESS Newswire