More amendments to Pension Funds Bill

CAPE TOWN - The Pension Funds Amendment Bill has not been given the thumbs up by Parliament after more amendments were introduced by the National Council of Provinces .

Once finalised The Pension Funds Amendment Bill will introduce a two-pot retirement system allowing members to access their savings before retirement. It was amended by the NCOP which had to send the bill back to the National Assembly's finance committee to consider the changes. National Treasury official Nomalizo Bulisile said that,"there was a decision by Treasury that employers are not permitted to issue loans and therefore we had to delete references to employer loans in the bill."

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