Members of Retirement Funds will be forced to wait a little longer before they can access a portion of their pension funds. The National Treasury has extended the implementation date for the Retirement Fund Two Pot system withdrawal to the beginning of March 2024.
According to the new bill, members of retirement funds will be able to withdraw one third of their pension fund whereas two thirds will be accessible only during retirement. This bill applies to all retirement funds including Retirement Annuities. It’s estimated that members will be able to withdraw about 10 percent of their pension money, subject to a maximum of R25 000.
The bill will help prevent those who cash in their pension funds every time they change jobs from doing so. And it will also give people who are retrenched limited access to their retirement funds as well as a savings portion.
I did mention that the fund has been looted over the years of President Zuma. These delaying tactics are meant for it to replenish to some level of respectable functionality.
But this is madness why are they postponing for another year March 2024 now 🙄😫
I’m gradually making more earnings now in my trades but with the aid of a trader that was recommended and now I'm recommending her to y'all EliDonovan01
And March 2024 you'll only access what you contributed from March 2023 to Feb 2024 😉
Its fine
Why 2024?
Mnxim
😭
Why we can't get it next year
I can't wait to get my share before they chow it .
I’m gradually making more earnings now in my trades but with the aid of a trader that was recommended and now I'm recommending her to y'all EliDonovan01
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Source: SABCNews - 🏆 37. / 51 Read more »