Parliament’s Standing Committee on Finance has decided to maintain the original implementation date of the two-pot retirement system of March 1, 2024, despite the National Treasury and industry wanting the system to be implemented in 2025.
National Treasury had said it wanted to enable SA Revenue Service (Sars) and the industry to get systems in place, which they say can be done only once the law has been proclaimed.
The system would permit members of retirement schemes to access their pension funds before retirement. The new system intends to allow members of retirement schemes the flexibility
