Two-pot retirement
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Retrenchment is taxing – how to create a survival plan to avoid financial disaster
While retrenchment is stressful, it could offer you an opportunity to reinvent yourself and your career.
New amendments to two-pot system aim to resolve anomalies in retirement fund seeding
The proposed amendment, which is backdated and will be effective from 1 September 2024, removes the restriction that members in the affected age group must remain in the same fund. The amendments also change the effective seeding calculation date for members in this particular age category.
SA Revenue Service: Two-pot withdrawals have hit over R35bn, applications almost at 2 million
Clearly, there are a lot of South African households in need of a liquidity shot. But there does not seem to be a mad scramble for cash as outlined in the SA Reserve Bank’s high withdrawal scenario.
Battling ‘sandwich generation’ members make the most two-pot savings withdrawals
The greatest motivation for two-pot pension fund withdrawals was short-term financial relief, fund administrators have found.
Spar Group tightens belt to offset soft sales
The group reported that its R10bn debt restructure would be completed by the end of this year, adding that its two-year plan to reshape its balance sheet was also ‘comfortably on track’.
Two-pot system, lower interest rates sow seeds for economic stimulus in SA
Withdrawals from the two-pot retirement system should improve economic growth, as will lower interest rates. But these gains can be maintained only with consistent power and good logistics.
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