Michelle Acton News Today

President Cyril Ramaphosa quietly signed the Revenue Laws Amendment Bill into law on Saturday, 1 June.

President Cyril Ramaphosa signed many other Bills, such as the NHI Bill and even the Cannabis for Private Purposes Bill before the election.

The finance minister introduced the Bill that will establish the two-pot retirement system during his Budget speech in February.

There is concern that the Pension Fund Amendment Bill will not be passed in time because it has to go back to the National Assembly.

The National Assembly has now passed both bills required for the two-pot retirement system to be implemented on 1 September.

The new date for the implementation of the two-pot retirement system will give stakeholders more time to get their systems ready.

‘This is expected to be a game changer in terms of giving members more accessibility when it comes to information about their savings.’ ‘This is expected to be a game changer in terms of giving members more accessibility when it comes to information about their savings.’

A round-up of news updates, including the call by President Ramaphosa for the speeding up of decolonisation of SA education.

The committee motivated that implementation should not be delayed as this would be unfair to those who are battling with debt, and need to access their retirement savings. If it goes ahead in March 2024, retirement fund members will be able to immediately access a minimum of R2,000 or 10% of th...

National Treasury decided a month ago to delay the implementation of the two-pot retirement system for another year.