Cash-strapped South Africans have been able to withdraw more than R21 billion from the two-pot retirement system, and it looks like R40 billion could be added to the fiscus.
Two-pot system: More than R21 billion has been withdrawn - giving cash-strapped South Africa ns a life| Published 7h agoMore than R21 billion has been paid out to South Africa ns who applied and withdrew from the savings withdrawals benefit of the two-pot retirement system., a total gross lump sum of around R21.4 billion has been paid out to taxpayers in the last two and half months.
“After a registered taxpayer has applied, a successful tax directive informs the fund management how much tax to deduct from a withdrawal.
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