Video: Our view on early access to retirement fund savingsWith the pandemic putting pressure on everyone’s pockets, National Treasury is considering to allow early withdrawals from retirement savings. While it could provide welcome relief to cash-strapped households, the impact will be felt throughout South Africa’s economy.ARTICLE BY The Mindspace team – 24 August 2021 – WATCH TIME: 3 MIN

The possibility of allowing retirement fund members early access to a portion of their savings (without having to resign or change jobs) is currently being considered by South Africa’s National Treasury and being discussed with the financial services industry and labour unions.

In this video, Malusi Ndlovu, Director: Large Enterprises at Old Mutual Corporate, discusses the proposal and some of the positive as well as negative outcomes it could have.

For more insights from Old Mutual experts and thought leaders, visit the Our expertise category.

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