THE LEGISLATIVE process by which the government’s well-publicised new system of saving for retirement, the two-component or “two-pot” system, becomes law, is happening slowly and not without hiccups, as the system requires amendments to a number of Acts governing taxation and financial services.
The National Treasury appears in a hurry to get at least the most crucial legislation passed by the end of March, with the implementation date now set for September 1. The implementation date is a matter of consternation