two-pot pension system
During the presentation of his budget speech on 21 February 2024, our Minister of Finance, Enoch Godongwana, indicated that the government is expected to earn R5 billion in personal income tax by 28 February 2025 due to withdrawals that retirement fund members will make from their Savings Pots that will only come into existence on September 1 2024 as part of the Two Pot System.
If we assume an average tax rate of 20% and an average
