Final countdown for administrators and employers to prepare for the two-pot system
Discovery Corporate and Employee Benefits provides a checkist of what employers should be doing before 1 September.
Discovery Corporate and Employee Benefits provides a checkist of what employers should be doing before 1 September.
DA MP takes Old Mutual to task for comments suggesting the 1 September implementation date ‘may slip’.
An 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.
The FSCA expects to receive a large number of amendments, so it would like to have prior sight of the proposed amendments beforehand.
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.
The amendments are necessary for private sector retirement funds to give effect to the two-pot retirement system.
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.