Old Mutual responds to Treasury’s latest proposed revisions to the two-pot retirement system
More clarify is required on certain aspects, including the implications for provident fund members over 55 and the proposed retrenchment benefit.
#2022 Draft Revenue Laws Amendment Bill
Treasury agrees to three of Cosatu’s responses to the proposed two-pot system
National Treasury has “loosened the lids” on the pots in the two-pot retirement system, agreeing to amend the draft legislation so that fund members will be able to access the savings they accumulated […]
New deadline for two-pot retirement system is still a big ask, says Asisa
The Association for Savings and Investment South Africa (Asisa) has welcomed National Treasury’s decision to move out, by a year, the date for implementing the two-pot retirement system but still believes the new […]
Other concessions by Treasury on potentially ambiguous two-pot provisions
National Treasury has proposed amending the draft two-pot retirement legislation to clear up a number of grey areas identified by stakeholders. The proposed changes were announced on Tuesday, when Treasury addressed the National […]
Administrators, funds will need 18 months to prepare for two-pot system, says Asisa
The Association for Savings and Investment South Africa (Asisa) says retirement funds and administrators would like at least 18 months from the date on which the final legislation is gazetted in which to […]
Two-pot retirement legislation must provide for immediate relief, says Cosatu
Cosatu has called for fund members to be allowed to access their accumulated savings when the two-pot retirement system takes effect, to prevent them from resigning and cashing out their savings. This was […]
Treasury publishes draft two-pot retirement system legislation
The two-pot retirement system will come into effect on 1 March next year, according to draft legislation published for public comment by National Treasury on 31 July. However, in an accompanying media release, […]
