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The Retirement Matters Committee of the Actuarial Society of South Africa (ASSA) is encouraging retirement fund members to start preparing for the implementation of the two-pot system on 1 September 2024 by ensuring that they can access their most recent retirement benefit statements.
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.
If you had to hazard a guess, when do you reckon the COFI Bill will be signed into law?