GEPF and other public sector funds ‘will be part of the two-pot system’
How accessibility and seeding will impact members of defined-benefit retirement funds.
#seed capital
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Animated video explains the two-pot retirement system
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Two pots: fund members must understand the implications of withdrawals
Money in the savings pot should be withdrawn only as a last resort, for absolute financial emergencies.
Cosatu wants a higher cap on transfers to fund members’ savings pots
It’s also hoping for concessions on access to the retirement pot when members are retrenched or dismissed.
Seeding will have a minimal impact on retirement funds’ liquidity, says Old Mutual
The updated legislation puts the retirement industry in a better position to be ready by 1 March 2024, it says.
This is how much you will be able to transfer to your savings pot on 1 March 2024
Retirement fund members who are expecting a big pay-out will be disappointed.
Treasury wants to exclude these ‘legacy’ RA funds from the two-pot system
Plus: the proposals for defined-benefit funds, inter-fund transfers, section 37D deductions, and the taxation of contributions and growth.
