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National Treasury and the South African Revenue Service (SARS) provided important feedback at the recent sitting of the Standing Committee on Finance as part of the parliamentary process regarding the much anticipated two-pot retirement system.
In his budget speech on 22 February 2023, the Minister of Finance announced that the proposed two-pot system will take effect on 1 March 2024. Many had hoped for a delayed implementation date, given the development required to systems to accommodate the new structure.
Many people say that the key to a good relationship with your partner is practising honesty and open communication, and this also applies to money matters. Many people struggle to talk about finances with their partners, which isn’t surprising as money is one of the most common reasons long-term relationships end.
As we journey through life – from our first jobs to marriage and children, retirement and planning your estate – it is essential to have a certified financial planner. They can guide us through every stage in life, helping us to save enough and leave a legacy for our loved ones.