South Africans could access their pension funds via a two-pot system earlier

South Africans could access their pension funds via a two-pot system earlier than anticipated. Parliament's Standing Committee on Finance has voted to go ahead with the plan to introduce the two-pot retirement system in March next year. The Bill will now go before the National Council of Provinces for the green light, before being presented for presidential approval. It will only become law once all the steps are complete. The chairperson of the Parliament's Standing Committee on Finance Joseph Maswanganyi says the committee made a recommendation to the National Assembly that the pension fund regime be implemented on the 1st of March next year instead of the 1st of March 2025. Treasury had initially decided to delay the implementation as many financial service providers expressed concern that their systems would not be ready by March next year. To discuss the implications of this move, we're now joined virtually by the head of Assurance at Allan Gray, Richard Carter. For more news, visit sabcnews.com and #SABCNews on all Social Media platforms.