Beware of dipping into retirement pot
Public servants have been urged to seek financial advice before withdrawing from retirement funds when the two-pot system starts in March 2024
Public servants who withdraw early from their retirement savings after the two-pot system starts in March next year need to be aware of the perils thereof, former acting director-general at the National Treasury Ismail Momoniat has warned.
“I’m hoping none of you withdraw funds when the government allows you to withdraw funds because if you do, you’re going to end up very poor later and rely on someone in your family to help you. When you withdraw funds, you are suddenly surrounded by vultures and you’ve got to watch out for that,” he said...
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