Increase in fund members planning to make a two-pot withdrawal
The Sanlam Benchmark Survey also shows that more respondents are turning to online sources for product information instead of using a personal adviser.
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Dispelling misconceptions about the two-pot retirement system
Members particularly need to understand pre-retirement withdrawals, and the implications of these withdrawals, including tax and liquidity at retirement.
Two pots: Alexforbes predicts R50bn asset outflow in the first year
The impact on capital markets should be minimal considering that most funds hold considerably more than 1% in cash, says Dawie de Villiers.
No savings pot withdrawal in September if your balance is less than R2 000
The Actuarial Society of South Africa urges retirement fund members to check their benefit statement to see whether they will qualify for a withdrawal.
Treasury addresses industry’s main concerns about Pension Funds Amendment Bill
An application clause will provide for the Pension Funds Act to prevail over the Divorce Act where the Acts’ provisions conflict.
Industry red-flags contradictions between Divorce Act and pension law amendments
The Association for Savings and Investment SA and the Institute of Retirement Funds Africa also call for amendments not related to the two-pot system to be held over.
Budget 2024: how the inflation monster will affect taxpayers
The Budget Review suggests that National Treasury does not intend adjusting the tax brackets for at least another two years.
Treasury anticipates tax windfall from two-pot retirement system
Many fund members are likely to withdraw the seed capital from their savings component.
Two-pot legislation speed bump – the Amendment Bill must be amended to include public sector funds
The Pension Bill will prohibit members from making a withdrawal from the savings component if the withdrawal results in insufficient funds remaining to settle a court order.
