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Tag Archives | withdrawals

two-potjies

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, Treasury said the proposed 2023 implementation date was optimistic, because retirement funds will have to change their rules and systems, and the […]

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nest-egg

Retirement benefit counselling has an impact on how much members take as cash

Proper counselling when employees change jobs or reach retirement makes a significant difference to the portion of their savings employees take as cash, but few employees are receiving this kind of advice, according to the 2022 Sanlam Benchmark Survey. Data from Sanlam’s Individual Member Support division shows that the portion taken in cash at withdrawal […]

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african-pots

Asisa recommends that tax regime be left as it is when two-pot system is introduced

The Association for Savings and Investment South Africa (Asisa) says the tax regime for retirement savings should not be changed when the two-pot retirement system is introduced, but any changes should only be carefully considered at a later stage if the South African Revenue Service (Sars) finds that members are using it to derive an […]

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