Tag: retirement contributions

The proposed "two pot" retirement system would allow people to have the best of both worlds – early access to a portion of their retirement funds, should it be necessary, while still preserving a significant portion for when they retire. The changes are set to take effect on 1 March 2024, but without further draft legislation being published in February, there are concerns that industry players will not have time to implement changes to meet this deadline.

South Africa’s retirement fund legislation has undergone a series of changes since 2012 as part of government’s retirement reform process, which is aimed at ensuring that retirees make adequate retirement provision.