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

Two-Pot System

4 Results / Page 1 of 1

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South Africa

South Africa is changing its retirement rules to help boost country savings: how it will work

      By Adrian Saville, University of Pretoria     A study of 160 countries, spanning 60 years of economic history, establishes that there is no country that has been able to transition from “poor to prosperous” without a high savings rate. And that households - in other words you and me - are one of the most important contributors to a country’s overall level of savings rate. Yet, […]

today29 July, 2024 39

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South Africa

In S.A, Alexforbes Clarifies Two-Pot Retirement System Applicability and Implications

In South Africa, Alexforbes has clarified that not all retirement funds will be applicable under the two-pot system. Pension companies are providing more information on the process, with John Anderson from Alexforbes explaining the financial implications and conditions for withdrawing from the savings pot. Anderson highlights that the two-pot system is designed to balance long-term retirement savings with addressing immediate short-term financial needs.  

today12 July, 2024 48

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Africa

South Africans uncertain about two-pot retirement system

The two-pot retirement system comes into effect on 1 September 2024 in South Africa. It allows people to withdraw a portion of their retirement funds before reaching retirement age. The rest will be preserved to sustain them post-retirement. However, many South Africans remain concerned as to how it will work and its impact. We asked Local Pension Fund Expert Arthur Kröhnert for his opinion on the matter.

today23 April, 2024 68

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Business / Economics

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 […]

today22 November, 2023 17