Treasury addresses industry’s main concerns about Pension Funds Amendment Bill
An application clause will provide for the Pension Funds Act to prevail over the Divorce Act where the Acts’ provisions conflict.
Conventional wisdom says that living expenses rise uniformly with inflation, so many financial plans are based simply on that. But analysing the spending patterns of retirees shows us that the data tells a different story.
Read moreAn application clause will provide for the Pension Funds Act to prevail over the Divorce Act where the Acts’ provisions conflict.
The Association for Savings and Investment SA and the Institute of Retirement Funds Africa also call for amendments not related to the two-pot system to be held over.
LockBit, the cybercriminal group allegedly responsible for the attack, was the subject of a take-down operation by global law enforcement agencies.
The Pension Bill will prohibit members from making a withdrawal from the savings component if the withdrawal results in insufficient funds remaining to settle a court order.
All stakeholders emphasise the need to finalise the amendments to the Income Tax Act and the Pension Funds Act.
The Minister of Finance responds to the Standing Committee on Finance’s call for the implementation date to be moved to 1 March next year.