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Dispelling misconceptions about the two-pot retirement system
Members particularly need to understand pre-retirement withdrawals, and the implications of these withdrawals, including tax and liquidity at retirement.
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 moreMembers particularly need to understand pre-retirement withdrawals, and the implications of these withdrawals, including tax and liquidity at retirement.
The Actuarial Society of South Africa urges retirement fund members to check their benefit statement to see whether they will qualify for a withdrawal.
National Treasury will work with the Department of Health on the funding scenarios outlined in the 2017 White Paper.
The pension or provident fund is likely to have additional risk benefits that may change significantly when you leave your current company.
An entity can formalise its dormancy by way of a liquidation process or by deregistering with the Companies and Intellectual Property Commission.
There is a major difference between pre-retirement and post-retirement funds regarding the nomination and payment of beneficiaries.
One of the guides applies to the Income Tax Return for Trusts.
Money in the savings pot should be withdrawn only as a last resort, for absolute financial emergencies.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.
Discovery is not hoping to secure a tender to administer the National Health Insurance scheme, says chief executive.
National Treasury resolves the conflict between the draft legislation and the explanatory memorandum.
Plus: the proposals for defined-benefit funds, inter-fund transfers, section 37D deductions, and the taxation of contributions and growth.
Clarity on when a gain is considered revenue or capital.
As with the similar section 12J investment incentive schemes, the barrier to entry is high.
Edward Kieswetter also shares his views on tax breaks for home electricity generation and a wealth tax.
Withdrawals from the savings and retirement pots will be taxed in different ways.