Two-pot system sparks R4.1bn cash grab
Retirement funds and Sars swamped by withdrawal applications
15 September 2024 - 08:10
As funds fielded R4.1bn in savings pot withdrawal applications in the first week of the two-pot system, the industry warned the public against taking regular large amounts from their life savings.
Retirement solutions providers have called the first week since the two-pot system went live a historic milestone for South Africa’s retirement industry and a massive task for the sector and regulators to manage...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.