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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.
As the two countries implement reforms, the local situation is unlikely to spiral out of control as it did in France. In October 2010 there were massive strikes across France against pension reform. Activist Jean-Baptiste Reddé’s slogan “Ecoutez la colère du people" (Listen to the people’s rage) became world famous as the symbol that epitomised public sentiment.