South Africans could access their pension funds via a two-pot system earlier
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- เผยแพร่เมื่อ 4 ส.ค. 2024
- South Africans could access their pension funds via a two-pot system earlier than anticipated.
Parliament's Standing Committee on Finance has voted to go ahead with the plan to introduce the two-pot retirement system in March next year.
The Bill will now go before the National Council of Provinces for the green light, before being presented for presidential approval.
It will only become law once all the steps are complete.
The chairperson of the Parliament's Standing Committee on Finance Joseph Maswanganyi says the committee made a recommendation to the National Assembly that the pension fund regime be implemented on the 1st of March next year instead of the 1st of March 2025.
Treasury had initially decided to delay the implementation as many financial service providers expressed concern that their systems would not be ready by March next year.
To discuss the implications of this move, we're now joined virtually by the head of Assurance at Allan Gray, Richard Carter.
For more news, visit sabcnews.com and #SABCNews on all Social Media platforms.
The piggy bank is almost empty. Now they are coming after your retirement money.
swines
Bring our money please before we die and actually what makes it so hard to give us our hard earned money bcs you made it easy to give those people's free money
We the working class are not being taken care of instead the system and the cost of leaving has putted us in more financial strain, we really need this... When you retire you old and tired and don't need as much as you need now so this should've been done long time ago
They must work through Christmas no shut down. And immediate access to at least R50000
Government will benefit a lot from this system as employees we are going to lose lot of money via tax this new system is not talking to us at all
We want our money why delay it's been long arguing over this
They dont have it,thats why
@@Thatsong-fr9nq😢
They should make it 50k. 25k it's very little
It might be too ambitious but putting the hard work to it, it will work but the guest must remember that we recently heard in the news about financial houses on the Rand!! So clean up make it work it is for the working class after all.
Who is money is this anyway? It's ours...we need it
Forget about retiring and buying that boat .you will only get a small fuel alowance every month with your dreams shuttered and die of hunger .all your money will be inside government pockets and you will have to work to survive at 70 still . Forget about retiring or buying a roof over your head or starting a business with that pension money .your money is gone" they lure people with a 2 pot system and small withdrawel that will be a very small 10% that might be about R20.000 maybe after tax just to make you happy and agree with their looting plan . the rest of your hundreds of thousand will be gone .enjoy working at 70 " watch this space" are you realy willing to trust your lifes savings to this government .think hard .its a huge plan to loot pension funds
there must be some big catches we not seeing needs to be scrapped
What happened to this bill . They rather implement NHI bill to take money from us
We as people must strike for 2 week's wether you work in retail or factory.because the Bosses and Manager's are not being affected it's us as general workers
😢 2025 is too far
They already tax our pensions fund why tax again? It's all money for them
NHI funding in style
Bring it to reality rather than theory. Give people the exact figure and correct d day, now they just play around people's minds.
Treasury they are rich up to the core, and playing a game of the hu gry, do they understand what they are doi g? The richer rob from the poor tobrag their riches.
What happens to the pot I can access if I don’t access it and I retire???
Taxing pension as income. Nice
I rather take my moneyo font trust this strategy sorry
13:04