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Sanlam has long been preparing for the Revenue Laws Amendment Bill, 2023 which President Ramaphosa has now signed into law, for implementation on 1 September 2024.
At the start of June, President Cyril Ramaphosa signed into law the amendment bill that establishes the "two-pot" retirement system, which allows members of retirement funds to access a portion of their retirement savings while still employed.
With the President signing the Revenue Laws Amendment Bill into law on 1 June 2024, this means the signing of the Pension Funds Amendment Bill is imminent, and the Two-Pot retirement system is confirmed to roll out as proposed on 1 September 2024.
However, South Africans are reminded that withdrawals can't take place on the day due to necessary seeding calculations.
Do you think short-term insurance broking will survive the AI plus humanoid robotics age?