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    Omanyano ovanhu koikundaneki yomalungula kashili paveta, Commisiner Sakaria takunghilile Veronika Haulenga

two-pot retirement system

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Business / Economics

FIMA’s Zamuee reacts to South Africa’s new retirement system

South Africa’s new two-pot retirement system is now officially operational, with administrators anticipating a significant influx of withdrawal requests from pension fund members. Dr. Manfred Zamuee, Chairperson of the Financial Institutions and Markets Act Technical Advisory Committee, has responded to the development, highlighting its implications. Public suggestions have also emerged advocating for Namibia to adopt a similar two-pot retirement system. Dr. Zamuee said that these suggestions, alongside other proposals and […]

todaySeptember 2, 2024 61

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South Africa

Warning Issued on Two-Pot Retirement System Impacting South African Government Dependency

Everest Wealth cautions that the two-pot retirement system may contribute to heightened government dependency in South Africa. The concern arises following Finance Minister Enoch Godongwana's announcement that the system is anticipated to generate a five-billion-rand tax windfall for the government. Riaan Grobler, the head of advisory services at the firm, highlights the risk of frequent withdrawals diminishing long-term savings, potentially increasing reliance on social grants. He emphasizes the need for […]

todayFebruary 23, 2024 7

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