TWO-POT SYSTEM
Treasury makes major concessions on retirement reform
Latest proposals would allow workers to access some of the savings portion of their pension funds immediately and extends implementation date by a year
20 September 2022 - 13:43
UPDATED 20 September 2022 - 22:59
The National Treasury has made major concessions to trade unions and the retirement industry on its proposed two-pot retirement system by granting workers immediate access to some of their accumulated savings and extending the implementation date by a year.
The Treasury has proposed that the new system will now take effect from March 1 2024, but the retirement industry represented by the Association for Savings and Investment SA (Asisa) remains sceptical that the new date is feasible...
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