South Africa: Two-Pot Retirement System
The revised 2023 Draft Revenue Laws Amendment Bill and 2023 Draft Revenue Administration and Pension Laws Amendment Bill were published on 9 June 2023.
These draft bills contain the necessary legislative amendments required to implement the first phase of the 'two-pot retirement system' effective 1 March 2024.
It is important to highlight that these proposed amendments will impact all individuals contributing to a retirement fund in South Africa, with certain exclusions applicable.
For a comprehensive understanding of the proposed amendments pertaining to the two-pot retirement system, you can access the attached detailed document
Please note: These amendments are still in the proposal stage.
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