South Africa’s two-pot retirement system faces early implementation amid industry concerns

South Africa’s Parliamentary Standing Committee on Finance has recommended that the so-called two-pot retirement system should be implemented on 1 March 2024, instead of March 2025. According to MoneyWeb, SA’s retirement industry has been caught off guard by the decision with financial service providers expressing concern about system readiness, and arguing that both the South African Revenue Service and the retirement industry need until 2025 to adapt to proposed changes in retirement fund investments.