Two-pot implementation costly for retirement industry
Sars issues 1.9-million tax directives for two-pot withdrawals valued at R35bn
26 November 2024 - 20:46
The Financial Sector Conduct Authority (FSCA) has estimated that the implementation of the two-pot system of retirement, which came into effect on September 1, has cost the industry R1.63bn.
FSCA deputy commissioner Astrid Ludin told a finance committee of MPs on Tuesday that in addition to this, retirement funds and administrators expect ongoing costs driven by queries and the submission of claims amounting to a probable R300m annually. ..
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