Mashatile says the two-pot system will benefit debt-ridden workers.
Deputy President Paul Mashatile has appealed to South Africans to be wise when accessing the two-pot pension system.
NEDLAC was established as a vehicle for forging partnerships between South Africa’s main social partners in order to jointly rebuild a post-apartheid country.Mashatile hailed the new system which came into effect on 1 September, noting how it is a milestone which will assist burdened“We urge South Africans to be wise in accessing their savings. Please only take it if there is a desired need,” he said.
One-third of retirement funds are preserved in a savings component that can be accessed before retirement, while the remaining two-thirds are reserved for retirement, ensuring financial security.Those who need emergency funds can partially withdraw while protecting most of their savings for retirement.
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.
Cameron slams slow pace of disciplinary processes against Mashatile’s VIP officersIan Cameron said the slow progress of the disciplinary process hurts the credibility of the police.
Read more »
Mashatile welcomes progress made in Jagersfontein mudslide - SABC News - Breaking news, special reports,So far 106 houses were handed over to the affected families by the Jagersfontein Developments Mine
Read more »
Gayton McKenzie Cracks Weight Loss Joke With Paul Mashatile at Meeting, Enthuses SA: “Impressive”Sports Minister Gayton McKenzie and Deputy President Paul Mashatile engaged in brief banter ahead of their meeting at the Union Buildings on Thursday, 22 August.
Read more »
SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Deputy President Paul Mashatile says government will deal with extortion gangs.
Read more »
'Do your work without fear': Mashatile promises not to sulk if Parliament holds executive accountable'Do your work without fear': Mashatile promises not to sulk if Parliament holds executive accountable
Read more »
Deputy president Paul Mashatile announces city cleaning programmeDeputy President Paul Mashatile announced yesterday the forthcoming implementation of a city cleaning program during the first Three-Sphere Planning session of the National Council of Provinces (NCOP) for the seventh Parliament in Cape Town. The program aims to enhance urban cleanliness and attract investment.
Read more »