If your savings pot had a balance of R30 000 on 1 September 2024, and you withdrew this full amount in the current tax year, you will only be able to withdraw whatever is available in your savings ...

Two-pot retirement: Here's the RIGHT way to use money you withdraw It seems South Africans are opting to use cash from their retirement funds to clear their debt.

T here’s been a lot of buzz around the Two-pot retirement system that officially came into effect on September 1, 2024. It’s ...

There are many misconceptions around Two-pot system. Thursday, June 12, 2025. News. ... Two-pot isn’t free money. Staff Reporter | Published 9 months ... “There is no right or wrong way for ...

But say you start your retirement journey on 1 September 2024, and you withdraw from your savings component religiously along the way, you’ll get to retirement with only two-thirds of your assets.

So where did this pension money go? It seems it was spent on cars and groceries. In the last quarter of last year, used car sales rallied – they were up 7.8% year on year (new car sales were ...

By Alude Xuba. The first day of September, 2024 will usher in a new era for a number of public service employees with the introduction and coming into effect of the new two-pot pension system.

Administrators are expected to earn between R640 million and R1.25 billion in fees from withdrawals under the two-pot retirement system.

Two-pot money: Total cost: R22 200: R49 500: R55 020: Monthly cost over 5 years: R370: R825: R917: ... That said, saving upfront is the best way to prepare for the festive period.

With two-pot withdrawals, ... and have even budgeted for the income they will receive in this way. By Paul Menge. 17 Sep 2024. 17 Sep 2024 ... and on top of that to take off any money you owe ...