I`m sure this scam wasn`t gonna go through in Kenya so thina eMzansi we are still soft....according to stats very very few will get to retirement age from the current generation and this money will just be looted by goverment.
Real this is an insult to us Workers of this country ...Tell me if im 40 yrs now and get retrenched next year instead of getting lumpsum now i have to wait till retirement age 🙆🏿🙄... Tell me in this high unemployment rate of this country where will i be employed again 🤷🏿... Mind u while government holding my.money till retiring age of which most of us is so rare to live till 60yrs this need an amendment.
Uzenzile akakhalelwa. Yini enhle eske yenziwa uRamaphosa. Amabhange ayohlale ewina. The fact they as black people we are charged a higher interest rate because we don't have assets to use as security tells you that we are being screwed. We're being punished because we were punished.
@@Sheilzdarlingzthe problem is that they most likely be out of money in the next few years and regret unless they get other jobs! People don't respect money or understands that it will be exosted till it finished
Samkelo should never be a teacher. He would confuse his students. He made a mistake about 33% of the vested pot going into a saving pot.. Check around 6:15... He then comes back later to try and explain the vested pot... Yhoo he should not have taken the challenge to explain this. But kudos for the bravery. Accurate info is important
You rightly pointed at errors.....this is what LIVE TV comes with. No opportunity to remove the error but you have the opportunity to correct, directly or indirectly. You spoiled everything with "cancel culture" suggesting that he shouldnt do this show. In case you have not noticed, he is the presenter of the segment that deals with many topics. If you listen carefully, you will realized that he is 99% accurate in all that he presented on the topic. Give someone a chance to grow....error made here arent really material. His presentation corrected the errors directly or indirectly!
Only 6% of South Africans retire comfortably, this will just make things worse. I say leave it alone.If you want to pay off debt or use it for an emergency, then that makes sense to me but we know that most people are going to use it for fun. Then there are those who say they want all their money because when they retire they are useless and only need food which can be covered by sassa, so sad, no self love.
I don’t understand why can’t you get all your hard earned money once u have retired, why does the government hold it and instead you get it monthly ? I means it’s our money surely we shud have a say or a choice whether we want to take it all or take it but by bit .
R30000 a year that will be taxed at your tax bracket. You really thought Cyril Ramaphosa was going to allow yo to pay of your personal loans , bond and cars and let the banks lose out on the interest. SHAME ON YOU.
Munger and Buffett have both achieved an incredible feat with Berkshire. They've turned thousands to billions, and have made a lot of people wealthy in the process. I really saw the potential of the stock market by reading Berkshire's annual letters. I recently sold my $674k apartment in the Bel Air area and I'm hoping to throw it into the stock market. I just don't want to lose everything.
it's True, It has never been easier to understand how to build your money after retirement than it is right now with the inflation, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investments, in my opinion, are complex.
Even if you’re not skilled, it is still possible to hire one. I was a project manager and my personal portfolio of approximately $850k of my retirement pension took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect and profit from my portfolio this red season. I’ve made over $250k since then.
Finding financial advisors like Deborah Lynn Dilling who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Thanks for sharing. I curiously searched for her full name and her website popped up after scrolling a bit. I looked through her credentials and did my due diligence before contacting her. Once again many thanks.
Are we going to get some money from. Our pension on the 1st September. Before it divided to these pots. Bcs some people are talking about the 10 percent that u will get if u want to
The retirement reforms "two-pot" system now referred to as the "two component" system was meant to be a lifeline for millions of South Africans facing financial hardships due to the soaring costs of living. It was not meant to be a tool to milk taxes out of workers to replenish state coffers which have been emptied out due to years of an inefficient, incompetent & corrupt state.
Cyril just wants to have an excuse for when he gets caught with large sums of money in his couch again 😂 He can just be like, It's my two pot money. He's not slique
This is nonsensical, this was not the intended consequence by Mr Thompson of natu. This is to the detriment of workers and to the benefit of pension funds as it guarantees them access to workers funds for an extended period of time
You are just signing for a hammer on your head!!!!! The alteration of pension funds is a total disaster to workers; meaning that you shall not get your funds whenever you resign until you reach retirement age..! That’s absurd
Now I understand how cruel is Ramaphosa this 2pots is not benefiting the employees is another way of milking people their hard earned monies. I believe each employee can be able to save for themselves we really don't need the government to save for us. Our financial problems are not the same why is this 2pots compulsory
This was what finally made me Emmigrate. When they started talking about this system where the government is going to keep your pension for u and they promise they will pay it in 40yrs time 😂 No thanks. I saw for long enough how the government manages funds.
As a person maybe who doesn't understand the pattern of tax,please clear me up here,for e.g if i have 30000 rand in saving pot,how much will be taxed from 30k?
There is a serious error on the slide that is shown 6.40 minutes into the video. The first bullet point states, "About 67% of monthly contributions go to Savings Pot." This is incorrect and is contradicted by the next slide, which correctly shows that 67% goes into the Retirement Pot. Presentation errors like this are creating confusion and misinformation in South Africa. This channel has 2.5 million subscribers and an error like this should be taken very seriously. This video should be taken off your channel and corrected quickly.
@@tasaramanamike146 Any financial advice/information that is misleading or incorrect should be seen as serious. South Africa also has about 4 million people who are either deaf or hard of hearing and may rely more on slides rather than what is being said.
But Samkele is not explaining but reading. Surely there are experts y'all could have invited in. I mean, Bongiwe, do you understand or you just heard the guy read?
All I'm saying is that it makes no point in taxing us when we are saving from salaries that are already taxed 😢 Make it make sense! The system is stupid and takes advantage of us.
This is non sense. We are allowed to withdraw but taxed . Then we are not allowed to access 60 to 70 % of our retirement until we reach retirement. They should have just left this to what it was. Workers were benefiting atleast at the end
Government disrespected and underestimated south African employees making decisions over our monies without our consent. This should have been an individual choice to make not that Ramaphosa should sign those pension amendment and put them in place for us... This is nonsense and not beneficial to us as employees
A journalist explaining a retirement system was just a bad idea. Journalist should remain in their lane instead of explaining something that they don't know.
Off course they know that everyone from the apartheid times has already been forced to retire at 65 causing them all misery now they will have better rules for the ones coming into the 65 years age group
Why make it compulsory?? I thought the government would have to put this into choices to those who want to join,join if you dont then it's oky also.how may of our generation is getting up to 60 nowadays people are dying like flies these days.and the government is locking there funds into pension. are you serious???I can smell lazy people celebrating my savings once am gone here
I've seen many other videos on the internet explaining this in a far more simple way. This guy is just talking making no sense. I dont think he understands himself what he is saying. He is just reading what is in front of him
This is still a scam, they just blinding people by this 30k access....of all these people who explains this system I haven`t heard anyone answering the question of what then if I decide to retire on my own without waiting for retirement age?
@@simphiweraymondmajola375 you gonna get all the money from the day you started till 2021 March not sure about the month after u will wait for retirement to get the rest every month
@@khumbulamangena7889 Thank you very much for confirmation, much more like what I expected...have resigned just to withdraw all of it and will start afresh, never planned to work for feeding government...lol
@@delightnukeri7710 But the withdrawal tax table is tax free from "R1 to R55000"...why would they tax 17.2% and where does that 17.2% come from, please advise
@@goodwillmtsweni2261 hello, You talking about the retirement.. its taxed differently , This one on saving pot is taxed according to your marginal rate, is not tax free like your 1st lumpsum of R550k when you retire...now you didn't retire hence you taxed on marginal rate
Later; people will be asking "where are the pots" 😂
😂😂😂😂😂
In phalaphala
😂😂
😂😂😂😂huuuuu🙆♀️🙆♀️
The big pot 'retirement pot'will be vanish 😂😂😂
Now u are a financial expert no more anti zuma in politics people got too much energy to listen what u are telling than A real financial advisor
This is just an insult to worker's
And the workers are happy about it they see nothing wrong
@@lindelanishongwe3900Yes we are
Such an insult. No control over the use of your retirement pot
True and I wonder where are this uneducated fools in our unions??there is no push back at all, big English and lack of understanding left them mum
I`m sure this scam wasn`t gonna go through in Kenya so thina eMzansi we are still soft....according to stats very very few will get to retirement age from the current generation and this money will just be looted by goverment.
Real this is an insult to us Workers of this country ...Tell me if im 40 yrs now and get retrenched next year instead of getting lumpsum now i have to wait till retirement age 🙆🏿🙄... Tell me in this high unemployment rate of this country where will i be employed again 🤷🏿... Mind u while government holding my.money till retiring age of which most of us is so rare to live till 60yrs this need an amendment.
Waze wadlala ngathi uhulumeni weANC
Uzenzile akakhalelwa. Yini enhle eske yenziwa uRamaphosa. Amabhange ayohlale ewina. The fact they as black people we are charged a higher interest rate because we don't have assets to use as security tells you that we are being screwed. We're being punished because we were punished.
lot of my colleagues resigned to access their pension and they on job market as we speak , cz this iyadina 😢
@@Sheilzdarlingzthe problem is that they most likely be out of money in the next few years and regret unless they get other jobs! People don't respect money or understands that it will be exosted till it finished
Samkelo should never be a teacher. He would confuse his students. He made a mistake about 33% of the vested pot going into a saving pot.. Check around 6:15... He then comes back later to try and explain the vested pot... Yhoo he should not have taken the challenge to explain this. But kudos for the bravery. Accurate info is important
You rightly pointed at errors.....this is what LIVE TV comes with. No opportunity to remove the error but you have the opportunity to correct, directly or indirectly. You spoiled everything with "cancel culture" suggesting that he shouldnt do this show. In case you have not noticed, he is the presenter of the segment that deals with many topics. If you listen carefully, you will realized that he is 99% accurate in all that he presented on the topic. Give someone a chance to grow....error made here arent really material. His presentation corrected the errors directly or indirectly!
Exactly, there is a mistake in his explanation
He has A.N.C maths
Nonsense gets someone who understands finances to explain to a mere Zuma hater
Don't access, you lose out, when you retire, you will need all the money then
Me two denny murch room did pay money until now amstate two thousand eight i need support please 😂💔
I only see people going on pension poor and the government taking your pensions. This is what really happening.
Loud and clear 🙌
Stop forcing people to retire at 65 while politicians can work till they drop dead
@vivianoosthuizen8990 those thieves they don't wanna go cos they are stealing bloody greedy
It’s upto you the voters to set same age limits to all government employees you pay their wages
Only 6% of South Africans retire comfortably, this will just make things worse. I say leave it alone.If you want to pay off debt or use it for an emergency, then that makes sense to me but we know that most people are going to use it for fun. Then there are those who say they want all their money because when they retire they are useless and only need food which can be covered by sassa, so sad, no self love.
Really now....how do you get this guy to explain pensions??
Please talk about the tax on withdrawal
I don’t understand why can’t you get all your hard earned money once u have retired, why does the government hold it and instead you get it monthly ? I means it’s our money surely we shud have a say or a choice whether we want to take it all or take it but by bit .
What does samkelo know about pension funds?
This is difficult to understand, if you not a financial educated person.
So true, especially the tax implications.
R30000 a year that will be taxed at your tax bracket. You really thought Cyril Ramaphosa was going to allow yo to pay of your personal loans , bond and cars and let the banks lose out on the interest. SHAME ON YOU.
Yhooooo it's so sad
Its not 30k a year its a once off there after it's monthly contributions
Munger and Buffett have both achieved an incredible feat with Berkshire. They've turned thousands to billions, and have made a lot of people wealthy in the process. I really saw the potential of the stock market by reading Berkshire's annual letters. I recently sold my $674k apartment in the Bel Air area and I'm hoping to throw it into the stock market. I just don't want to lose everything.
it's True, It has never been easier to understand how to build your money after retirement than it is right now with the inflation, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investments, in my opinion, are complex.
Even if you’re not skilled, it is still possible to hire one. I was a project manager and my personal portfolio of approximately $850k of my retirement pension took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect and profit from my portfolio this red season. I’ve made over $250k since then.
nice! once you hit a big milestone, the next comes easier.. who is your advisor please, if you don't mind me asking?
Finding financial advisors like Deborah Lynn Dilling who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Thanks for sharing. I curiously searched for her full name and her website popped up after scrolling a bit. I looked through her credentials and did my due diligence before contacting her. Once again many thanks.
Are we going to get some money from. Our pension on the 1st September. Before it divided to these pots. Bcs some people are talking about the 10 percent that u will get if u want to
On 1 September 2024 you can withdraw 10% of your pension fund money (Vested pot) limited to R 30 000. (This is once off)
Explained Clearly 🎉❤
The retirement reforms "two-pot" system now referred to as the "two component" system was meant to be a lifeline for millions of South Africans facing financial hardships due to the soaring costs of living. It was not meant to be a tool to milk taxes out of workers to replenish state coffers which have been emptied out due to years of
an inefficient, incompetent & corrupt state.
This dude keeps saying:"let me explain" and then proceeds to confuse me more🤦♂️
😂😂😂
😂😂😂same here 😅
😂😂🤣🤣🤣😆😆😆
Cyril just wants to have an excuse for when he gets caught with large sums of money in his couch again 😂 He can just be like, It's my two pot money. He's not slique
Wow that's amazing
Patiently waiting
Explained better than those fear mongering old mutual
This is just a way for Government to access your money
This is nonsensical, this was not the intended consequence by Mr Thompson of natu. This is to the detriment of workers and to the benefit of pension funds as it guarantees them access to workers funds for an extended period of time
True, pension funds benefit. And in the case where someone chooses to withdraw their savings, SARS benefits.
You are just signing for a hammer on your head!!!!! The alteration of pension funds is a total disaster to workers; meaning that you shall not get your funds whenever you resign until you reach retirement age..! That’s absurd
... Take all your money now, and start something you will thank me later
There’s an error somewhere in that presentation ya Samkelo 🤨
So what happened to those paid up Retirement annuities were one is not making contributions anymore?
He has no idea what he is talking about...this lumpen🤣
Now I understand how cruel is Ramaphosa this 2pots is not benefiting the employees is another way of milking people their hard earned monies. I believe each employee can be able to save for themselves we really don't need the government to save for us. Our financial problems are not the same why is this 2pots compulsory
John must get all his money 👌 why Rhamaphosa want John to invest his own money.
This was what finally made me Emmigrate. When they started talking about this system where the government is going to keep your pension for u and they promise they will pay it in 40yrs time 😂 No thanks. I saw for long enough how the government manages funds.
As a person maybe who doesn't understand the pattern of tax,please clear me up here,for e.g if i have 30000 rand in saving pot,how much will be taxed from 30k?
Average tax rate of R30k is 17.2% meaning your Paye will be R4973 and Uif of R177 . Therefore what reflect to your bank (Net pay) will be R24850
There is a serious error on the slide that is shown 6.40 minutes into the video. The first bullet point states, "About 67% of monthly contributions go to Savings Pot." This is incorrect and is contradicted by the next slide, which correctly shows that 67% goes into the Retirement Pot. Presentation errors like this are creating confusion and misinformation in South Africa. This channel has 2.5 million subscribers and an error like this should be taken very seriously. This video should be taken off your channel and corrected quickly.
It's just a typo. Try to listen to what is being said. Typos occur occasionally with slides. Also, there's nothing serious there.
@@tasaramanamike146 Any financial advice/information that is misleading or incorrect should be seen as serious. South Africa also has about 4 million people who are either deaf or hard of hearing and may rely more on slides rather than what is being said.
I totally agree. While we applaud his bravery to present this, he should have left it to a financial practitioner with knowledge of this law.
Samkelo Should have left this whole presentation to the expect
But Samkele is not explaining but reading. Surely there are experts y'all could have invited in. I mean, Bongiwe, do you understand or you just heard the guy read?
Iniquality in the workplace, CEO 20 million bonus and employee 200 😂😂😂
Does this apply to the SAMRO Retirement Annuity Fund?
Samkelo, maximum withdrawal is R30K taxed.
@@HJ_Systems it is not r30k???
@@malebtop9720 yes it is, initially it was R25K
@@malebtop9720 I wish it was R100K
@@HJ_Systems me too really need this moola
Halloween are securities involved,how long you should work to qualify
Yoh, maybe alostro will explain it better
The tax is too much and the amount left will still be less, Just imagine if I wanted to pay for the registration of a child at university.
Which number tax today trade
This thing is a scam
I truly agree with vavi as he consider as exactly scam to workers
What about us we have only 30k how much will I get I dnt understand this
Which percentage does it conserde
All I'm saying is that it makes no point in taxing us when we are saving from salaries that are already taxed 😢 Make it make sense!
The system is stupid and takes advantage of us.
Where is Mthunzi?
This is non sense. We are allowed to withdraw but taxed . Then we are not allowed to access 60 to 70 % of our retirement until we reach retirement. They should have just left this to what it was. Workers were benefiting atleast at the end
One day you SAns will cry, this Ramaphosa is digging you a big hole
Government disrespected and underestimated south African employees making decisions over our monies without our consent. This should have been an individual choice to make not that Ramaphosa should sign those pension amendment and put them in place for us... This is nonsense and not beneficial to us as employees
Why tax 26.67%=8k -30k=-22k🙆🏾🙆🏾🙆🏾......why tax it so much?
Why it looks like this is a force?
On two point system working casualty isn't gaining more,such ewp
Couldn't they get someone else to explain
Guys are you aware that people under provident fund under 55 years are not included :
A journalist explaining a retirement system was just a bad idea. Journalist should remain in their lane instead of explaining something that they don't know.
I dont understand that first R27500 not texted
Off course they know that everyone from the apartheid times has already been forced to retire at 65 causing them all misery now they will have better rules for the ones coming into the 65 years age group
We can save for ourselves we don't what that pot
This my money why should it be bind ,at end of the day my money not government money
What is Samkelo wearing....ahhh this guy mara
The more he explains it the more confusing it becomes
In phalaphala
Why it shouldn't be 10% straight not capped to 300000
This 2 pot system is extremely confusing
60 working days before you get money it's unfair
Amasimba lento
If u owe sars they gona deduct all from this
Some would come out with R200 at the end . It's shameful
Senzela uhulumeli imali not for us
Why make it compulsory?? I thought the government would have to put this into choices to those who want to join,join if you dont then it's oky also.how may of our generation is getting up to 60 nowadays people are dying like flies these days.and the government is locking there funds into pension. are you serious???I can smell lazy people celebrating my savings once am gone here
It isn't compulsory for you to take any money out. Best is leave your pension alone
Why create unneeded pots???? Scam lesi
Pls aphi ama union mawangenelele u government udlala ngabantu bafuba ini ezimalini zabantu kubi no no no
Unions are governing the country, Cosatu is ANC,
Bank trailers for sale who's winning revised the two port
I just hope mining isn't part of this nonsense
I got it then got confused 😢😢😢
I've seen many other videos on the internet explaining this in a far more simple way. This guy is just talking making no sense. I dont think he understands himself what he is saying. He is just reading what is in front of him
In investment under stealers today money it's great controls
This is still a scam, they just blinding people by this 30k access....of all these people who explains this system I haven`t heard anyone answering the question of what then if I decide to retire on my own without waiting for retirement age?
@@simphiweraymondmajola375 you gonna get all the money from the day you started till 2021 March not sure about the month after u will wait for retirement to get the rest every month
You won't get any money!
@@khumbulamangena7889 Thank you very much for confirmation, much more like what I expected...have resigned just to withdraw all of it and will start afresh, never planned to work for feeding government...lol
Andizi😂😂😂taxed...getting R21000, depending on your tax bracket,hai
Lana kulelibhodwe sibona kuvalwa njalo imali yezalukazi,ivuselelwa futhi njalo kuyikinga ukwehla nano senyuka.indabayamavuselela ngonyaka umunye icazani
Samkelo my brother 👨, let’s not force things my brother. You can’t even explain how to make the pots to be done to your class mate next door.
Why president you do that is my money l need my money back pls
This R30000 is it taxable at withdrawal? Or is it tax free?
They tax you, 17.2%
@@delightnukeri7710 But the withdrawal tax table is tax free from "R1 to R55000"...why would they tax 17.2% and where does that 17.2% come from, please advise
@@goodwillmtsweni2261 hello,
You talking about the retirement.. its taxed differently ,
This one on saving pot is taxed according to your marginal rate, is not tax free like your 1st lumpsum of R550k when you retire...now you didn't retire hence you taxed on marginal rate
67% goes to the VESTED PORT . NOT SAVINGS PORT . SABC MAKING MISTAKES
Waze wadlala ngathi uhulumeni weANC
Yini esiza abantu esake yenziwa uRamaphosa?From the NUM to now he has always sided with businesses. How much interest are banks from from us?