Two-pot system: To withdraw or not?
The two-pot system seeks to address this by preserving a substantial portion of retirement savings while still providing access to funds when genuine financial needs arise.
As South Africa’s two-pot retirement system approaches its second anniversary in September, much of the public conversation still focuses on how much money members have withdrawn.
Nic Whittles, senior employee benefits consultant at BDO Wealth, said that looking at how much money has been withdrawn risks overlooking one of the system’s most important long-term benefits: a significant portion of retirement savings is now being preserved throughout a member’s working life.
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