Finance committee agrees to September start for two-pot system
The compromise is based on a letter by finance minister Enoch Godongwana saying an earlier date is not feasible
Parliament’s finance committee has agreed to a compromise implementation date for the two-pot retirement savings system of September 1 2024, as proposed by finance minister Enoch Godongwana.
It previously decided on a March 1 2024 implementation date, which the retirement industry believed is not feasible. The Treasury originally proposed March 1 2025, but the committee felt that the financial needs of struggling workers require an earlier date and went against the Treasury’s proposal...
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