Zuko Komisa

The Revenue Laws Amendment Bill of 2023, which creates a “two-pot” system that allows members of retirement funds to access retirement assets without having to resign or cash out their whole pension, was signed into law by President Cyril Ramaphosa.
According to the Presidency with these adjustments, the retirement system is guaranteed to continue adapting to a wide range of financial demands, promoting both urgent emergency relief and long-term financial security. In times of need, it enables fund members to access a portion of their retirement funds.
Conventional retirement plans frequently don’t have the flexibility to deal with sudden financial crises because they are largely focused on long-term savings.
#BreakingNews: President Cyril Ramaphosa has signed the Revenue Laws Amendment Bill of 2023 into law. According to a statement by the presidency, the Bill introduces a two-pot system, allowing retirement fund members to access retirement savings.#KayaNews #ElectionsOnKaya ZY pic.twitter.com/cdULrZHdNg
— Kaya News (@KayaNews) June 1, 2024
President Ramaphosa said: “While we are continuing the task of growing our economy to create more opportunities for all South Africans and reduce the financial vulnerability affecting many individuals and households, the new retirement system offers protection and dignity to those who need it the most to overcome financial stress.”
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