Treasury has published a proposed set of laws that will guide the two-pot retirement system.
National Treasury and the South African Revenue Service published the Draft Revenue Laws Amendment Bill and the Draft Revenue Administration and Pension Laws Amendment Bill for comment on Friday.These draft bills provide the necessary legislative amendments required to implement the first phase of the so-called “two-pot” retirement system.
The two-pot system allows South Africans to withdraw one-third of their retirement savings while working.
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