Treasury publishes draft amendments to two-pot legislation
The Bill provides for flexibility when provident and provident preservation funds perform the seeding calculation.
#seeding
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Why Discovery’s fund members are making two-pot withdrawals
Despite relatively low overall withdrawal rates, 24% of claimants are using their retirement savings for home or car repairs and 21% for settling short-term debt.
Members can expect payment delays when making withdrawals from the savings pot
The allocations to the savings component can happen only from 1 September onwards, says Old Mutual.
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.
Two pots: MPs agree with Cosatu that R25 000 cap on seeding is too low
Retirement industry bodies plead for a later implementation date, but Cosatu says 1 March next year is a ‘red line’.
Two-pot retirement system: what are the four key issues still to be resolved?
There is still considerable uncertainty regarding what must to be implemented by the retirement industry.
