Finance minister Tito Mboweni instructs officials to act on proposals with haste as more South Africans face financial distress
BL PREMIUMThe National Treasury has proposed a “two-pot system” for withdrawals from pension funds, with one-third being accessible before retirement and two-thirds being locked into compulsory preservation for retirement.
The debate over access to retirement savings by those in distress grew new wings this week, with finance minister Tito Mboweni’s comments on Wednesday that the matter had been “stuck in the system for too long”. He had instructed officials to act on it with haste...
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