The South African Revenue Service (SARS) said that more than one million people had withdrawn from the savings pot since the two-pot system was implemented.
JOHANNESBURG - The two-pot retirement frenzy continues as withdrawals surpass the R21 billion mark in less than two months.
Under the first-of-its-kind reform, pension funds have now been split into vested, savings and retirement pots as part of a bid to ease financial strain on households.The South African Revenue Service said that more than one million people had withdrawn from the savings pot since the two-pot system was implemented.
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