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Retiring with R1 million less? Major warning to South Africans making two-pot withdrawals
Repeated withdrawals from the two-pot savings component could significantly reduce retirement income. One projection estimates that an employee earning R30,000 a month could retire with about R1.01 million less after withdrawing the full allocation annually for 30 years
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Timeline cronologica
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SARS reaps billions as South Africans withdraw from two-pot savings
Two-pot retirement withdrawals are helping South Africans pay debt and living costs, but billions of rand are also being deducted in tax.
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Retiring with R1 million less? Major warning to South Africans making two-pot withdrawals
Repeated withdrawals from the two-pot savings component could significantly reduce retirement income. One projection estimates that an employee earning R30,000 a month could…
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Public servants tap R15 billion in retirement savings
More than half a million public servants withdrew about R15 billion from their retirement savings in just seven months after the two-pot system took effect.