The public has until August 29 to comment on the 2022 Draft Revenue Laws Amendment Bill. This will allow workers, both in the public and private sector, to access a third of their retirement savings a year. It is anticipated to be implemented in April next year.
“The amendment from Treasury has many positive aspects to it going forward in April next year it will allow workers one third of their savings through a savings pot once a year and the other two thirds will accessed once they retire which will mean workers will avoid having to retire in order to access their pension funds which will incentivise workers to save more once they access their one third savings pot,” says Cosatu’s Matthew Parks.
“The workers spend more money to commute from their work places home and their monthly responsible income which means that workers are working for charity. This situation is becoming untenable and we will now step up the pressure on government and in particular National Treasury to urgently table these amendments through legislation and currently consult workers and federations through the Nedlac process,” says Deputy General Secretary of Fedusa Ashely Benjamin.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Nono Maloi elected ANC North West chairperson - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Former member of the National Parliament, Nono Maloi, has defeated the current North West Premier, Bushy Maape, for the position of the African National Congress (ANC) provincial chairperson. Zyakhala
Source: SABCNews - 🏆 37. / 51 Read more »
Public service wage talks deadlock - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Unions at the public service wage talks are resolute as they maintain their rejection of government’s 2% wage offer.
Source: SABCNews - 🏆 37. / 51 Read more »
TIMELINE: Marikana Massacre - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.About 3000 miners at Lonmin mine in Rustenburg went on strike demanding better wages in August 2012. However, in the course of the unprotected strike members of the SAPS killed 34 and injured another 74 others at a Lonmin-owned platinum mine in the Marikana area of the North West province. Becoming a great person in life do take time but time awaits you so get started with _JamesAlderson He's actually the best in the stock market. A highly recommended broker Can you remind us about the 8 people, plus 2 security guards who were killed and maimed by the very same miners you are talking about, a week prior to the so-called massacre. Will those poor souls ever be remembered in hypocritical country. Do their lives matter.
Source: SABCNews - 🏆 37. / 51 Read more »
Crypto Firm Binance Chooses New Leader for its South African Business - IT News Africa - Up to date technology news, IT news, Digital news, Telecom news, Mobile news, Gadgets news, Analysis and ReportsBinance, one of the world’s leading crypto and blockchain infrastructure providers, has today announced the appointment of Hannes Wessels as its Country Head of South Africa. The firm says the new appointment will further its ambitions to drive its business operations in the region. According to Finder, cryptocurrencies and the blockchain industry generally have less […]
Source: ITNewsAfrica - 🏆 27. / 59 Read more »