Two-pot system: Why you should not treat your savings like a bank account

Focused on preservation of savings, the new two-pot retirement system, set to kick off in September this year, will allow retirement fund members to safeguard money for their pension and retirement but still access funds in emergencies.

Government and trade unions have lauded the system for creating a"thirteenth cheque for workers amid harsh financial conditions". Retirement fund administrators, meanwhile, have anticipated billions of rands in withdrawals. According to Alexforbes, withdrawals from the pension fund industry could amount to South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism. Join our free subscription trial to unlock this story and a world of news aimed to inform, empower, and inspire.

Belinda Sullivan Two Pot System

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