Treasury proposes partial access to pension savings in ‘two-pot system’
Treasury also wants to make it compulsory for everyone who works to contribute to retirement savings
30 July 2021 - 05:10
UPDATED 30 July 2021 - 17:57
The National Treasury has proposed a “two-pot system” for withdrawals from pension funds, with up to one-third being accessible before retirement and two-thirds being locked into compulsory preservation for retirement.
If adopted, this system of two pots will be phased in, with contributions starting soon after the law is enacted, but actual withdrawals only possible after a few years...
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