Two-pot Retirement System: Katlego Legodi unpacks
Автор: SABC News
Загружено: 2024-08-08
Просмотров: 46683
From the 1st of September South Africans can have access their part of the retirement savings.
This follows President Cyril Ramaphosa's signing the Pension Fund. Amendment Bill into law to implement the Two-Pot Retirement System.
The legislation facilitates flexibility regarding for South Africans.
Two-Pot Retirement System will enable workers to access a small portion of your retirement savings before retirement for emergencies. The new retirement system is expected to encourage preservation while also assisting South Africans who are battling to make ends meet.
Members of retirement funds will be able to withdraw a maximum of 10% or a maximum of R30 000 from their retirement fund.
This amount will be taxed according to your income and tax marginal rate.
SABC News reporter Katlego Legodi joins us here in studio to unpack the two-pot system.
For more news, visit sabcnews.com and #SABCNews on all Social Media platforms.
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