National Treasury proposes more changes to the two-pot retirement system
Delaying the implementation date and raising the seeding cap are among the announcements and clarifications.
Delaying the implementation date and raising the seeding cap are among the announcements and clarifications.
Retirement industry bodies plead for a later implementation date, but Cosatu says 1 March next year is a ‘red line’.
How accessibility and seeding will impact members of defined-benefit retirement funds.
Money in the savings pot should be withdrawn only as a last resort, for absolute financial emergencies.
Administrators are concerned there is not enough time for financial advisers and members to understand the implications of the changes.
National Treasury has “loosened the lids” on the pots in the two-pot retirement system, agreeing to amend the draft legislation so that fund members will be able to access the savings they accumulated […]
National Treasury has proposed amending the draft two-pot retirement legislation to clear up a number of grey areas identified by stakeholders. The proposed changes were announced on Tuesday, when Treasury addressed the National […]
Cosatu has called for fund members to be allowed to access their accumulated savings when the two-pot retirement system takes effect, to prevent them from resigning and cashing out their savings. This was […]
Blessing Utete, the managing executive of Old Mutual Corporate Consultants, spoke to Mark Bechard, the managing editor of Moonstone publications, about National Treasury’s draft legislation for the two-pot retirement system. Read: Treasury publishes […]
The two-pot retirement system will come into effect on 1 March next year, according to draft legislation published for public comment by National Treasury on 31 July. However, in an accompanying media release, […]