retirement funds

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A comprehensive overview of South Africa’s Two Pot Retirement System

By Vusuthando Percyvil Dube Effective from September 1, 2024, the Two Pot Retirement System represents a transformative shift in South Africa’s retirement savings paradigm. This system aims to provide a financial safety net during times of crisis while also promoting long-term savings for retirement. This article delves into the depth of this system, including the structure of its components, eligibility criteria, and a detailed example to illustrate its workings.  According […]

today2 September 2024

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What you need to know about the ‘two-pot’ retirement system

Pension reforms reached another milestone this week as the National Council of Provinces (NCOP) adopted the latest changes to the Pension Funds Amendment Bill. This means South Africans could soon be able to tap into their retirement savings or pension funds while still employed. The amendments made to the bill by the National Assembly and NCOP ensure that government employees, Transnet, post, and telecommunications pension funds are included in the […]

today27 April 2024

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Two-pot retirement system: Independent Economic Analyst

By Lee-Yandra Paulsen National Treasury has called upon the public to review the draft legislation concerning the two-pot retirement system, providing an opportunity for individuals seeking access to their retirement or provident funds. During an interview with VOC Drive Time on Monday 12 June, Professor Bonke Dumisa, an Independent Economic Analyst, shed light on the matter. He explained that for over a decade, the labour component at the National Economic […]

today13 June 2023

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Government’s plan to use South African retirement funds – and what it means for your money

The ANC’s economics chief, Enoch Godongwana, says his party is moving away from the idea that prescribed assets be used as a ‘policy tool’, and is instead focusing on changes to Regulation 28 of the Pension Funds Act. The regulation currently limits the extent to which retirement funds can invest in particular assets or in particular asset classes. The main purpose is to protect the members’ retirement provision from the […]

today25 August 2020

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