The President signed the Pension Funds Amendment Bill into law on the 21 July 2024, clearing the way for retirement funds to amend their rules, to enable members to access part of their retirement savings without having to leave employment. The two-pot...
Everybody loves tax – not! Unfortunately, in South Africa taxation is unavoidable and very high. It is also very complicated. The two-pot system has introduced a new way to tax our retirement funds. Any withdrawal from your savings pots will be based on...
Subedra Reddy, Executive Head: Actuarial DC Funds, NBC Holdings (Pty) LtdThe two-pot system is on everyone’s minds in the retirement fund industry. With the proposed implementation date of 1 March 2024 looming large, service providers, trustees and members are...
The vast majority of business transactions and the storage of data are done on digital platforms. In respect of retirement funds, key functions such as the maintenance of a members' individual records, monthly updates of contributions, investments/disinvestments and...