Reserve Bank expects two-pot boost of at least R31bn for household incomes
Sars says it will be ready to handle the tax component of the payouts
05 August 2024 - 05:00
The “two pot” retirement fund system could boost household disposable incomes by as little as R31bn or as much as R79bn in the fourth quarter of the year, estimates the Reserve Bank.
Retirement sector players have been working overtime to prepare for the new system and to estimate how much their members will choose to withdraw from the “savings” portion of their funds once it kicks in on September 1. But in a new working paper, the Bank’s researchers project that the maximum members might pull out of their funds in a high-withdrawal scenario is R100bn...
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