Ten top tips on the two-pot system for retirement savings

Ten top tips on the two-pot system for retirement savings that National Treasury released on 29 July 2022 regarding the 2022 Draft Revenue Laws Amendment Bill for public comment until 29 August 2022. Moneyweb Retirement

On 29 July 2022, National Treasury released the 2022 Draft Revenue Laws Amendment Bill for public comment until 29 August 2022 to introduce the ‘two-pot’ system for retirement savings that was flagged in the National Budget.

This is regarded as a better alternative to people resigning their jobs to access their pensions or provident funds. The planned implementation date is 1 March 2023, although Treasury said it was probably optimistic, given the necessary changes to fund rules and systems and education of members. Below we list the ‘top ten’ aspects of how the two-pot system is envisaged, according to the draft legislation.

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