Retirement

Rethinking retirement solutions in South Africa

Living annuities are never far from controversy in the South African advisory industry, as advisors and product providers debate the most appropriate application of these products to SA pensioners’ retirement plans.

Two-pot system effective date - 1 September 2024?

Old Mutual embraces the government’s revised timeline for Two-Pot Retirement System implementation

Old Mutual announced on Monday that it welcomed the National Treasury’s announcement that it would move the implementation date for the Two-Pot Retirement System to 1 September 2024, which is in the best interest of all stakeholders.

Industry wanted 12-months for not-so-simple two-pots

Financial services firms that were hoping for more time to make system changes to comply with National Treasury’s two-pot retirement system received bad news this November, following a decision by Parliament’s Standing Committee on Finance (SCOF) to decree a 1 March 2024 implementation date. The committee outright rejected Treasury’s suggestion that the implementation be delayed by another year, to March 2025.