Financial advisers should understand the broader implications on tax planning, retirement savings, and investment strategies to guide their clients effectively.
More than 60% of two-pot withdrawal applicants have come from low-income groups, according to Momentum’s latest figures.
South Africa has the potential to boost its savings rate and secure a more stable source of funding for fixed investments, essential for driving economic growth.
The Sanlam Benchmark Survey also shows that more respondents are turning to online sources for product information instead of using a personal adviser.
Investors can maximise their tax benefits by contributing extra funds to their retirement annuities before the tax year ends.
