Description

Two-pot system is confirmed, here all the details

• Starts 1 March 2024
• All future reg28 and pension contributions will be split into two pots
  • One third savings
  • Two thirds investments
• You can withdraw the savings component before retirement
• Tax still payable
• Existing funds will convert automatically into the new two-pot system
  • Of existing funds R25,000 will be transferred into the savings pot
  • Concerns about everybody taking out their R25,000 and crashing the market are over done.

Simon Shares

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Simon Brown