FNB is the latest major financial instituion to warn South Africans about the dangers of the two-pot retirement system.
FNB is the latest financial services provider to warn retirement fund members about the new two-pot retirement system.The savings pot will hold one-third of all retirement savings and be accessible before retirement.
Although many South Africans see the new system as an opportunity to access retirement savings early, FNB has warned that members should think carefully about the potential impacts that accessing savings early could have. “So, it’s best to only take money out if it’s an emergency and you have no other options. It’s also critical to consult a qualified financial advisor who can quantify the impact of withdrawing your retirement savings.”
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Drinking and driving in South Africa – what insured South Africans need to knowThe Ombudsman for Short-Term Insurance examines a case where someone submitted a claim following an accident – admitting they had been drinking earlier that day.
Read more »
South Africa: Chidimma Adetshina Withdraws From Miss South Africa Pageant'...After much careful consideration, I have decided to withdraw myself from the competition for the safety and well-being of my family and me.'
Read more »
South Africa: Cyril Ramaphosa's Speech to Parliament Listed South Africa's Old ProblemsAnalysis - South African President Cyril Ramaphosa's opening of parliament speech successfully captured the spirit of a diverse and cohesive multi-party government ready to get down to work. But it failed to tell South Africans how the new dispensation will do things differently, and better.
Read more »
The two most expensive cities for rent in South AfricaTwo of South Africa’s three capital cities charge the most for rent in South Africa.
Read more »
Kaizer Chiefs: Young Africans Thrash Amakhosi on Nasreddine Nabi’s Debut in South AfricaKaizer Chiefs end their pre-season on a bad note as they lost woefully against Tanzanian champions Young Africans in the Toyota Cup in South Africa on Sunday.
Read more »
Where did South Africa finish in medal table for AFRICA?The United States finished top of the medal table at the Paris Olympics 2024, but how did South Africa do in terms of Africa's best?
Read more »