South Africa Introduces Two-Pot Retirement System | Business Edge | 27/06/2023
· 27.06.2023 · 15:15:06 ··· ··· Tuesday ·· 2 (2)
News Central TV South Africa’s biggest insurance companies are expecting a wave of cash-strapped South Africans to withdraw up to R25,000 each from their pension savings when the new two-pot retirement system comes into effect next year.
The reform is meant to deter South Africans from cashing out their retirement savings when they resign, and aimed at preventing workers from resigning to access their retirement funds.
ANCHOR
Lekan Onabanjo
GUEST
Stephen Walker, Chair of the Retirement Matter Committee of the Actuarial Society of South Africa.
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