South Africa’s new ‘two-pot’ retirement system was signed into law by President Cyril Ramaphosa on the 1st of June 2024. According to a statement by the Presidency, the Revenue Laws Amendment Bill of 2023, which established a ‘two-pot’ system gives members access to retirement savings without having to resign or cash out their entire pension funds.
What does this mean for our money, taxation, investment growth etc.?