EDITORIAL: Care needed over introduction of two-pot retirement system
Standing committee changes implementation date from March 2025 to March 2024
Parliament’s standing committee on finance has caused an upset in the retirement industry with its decision to change the implementation date of the two-pot retirement system from March 1 2025 to March 1 2024. This is not a simple matter but has serious implications for retirement funds.
Members of the committee justified this decision on the grounds that it is in the interests of financially distressed workers who have been waiting since 2020 to get access to some of their retirement assets. Without this access, workers all too often resign from their jobs to get their lump-sum pension payouts, only to become unemployed and destitute later. ..
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