Video: Understanding SA’s new two-pot system for retirement savingsNational Treasury is proposing a new system for retirement savings, and the possibility to access some funds before retirement. Old Mutual Corporate Consultant’s Head of Advice, Andrew Davison, explains what we know so far.VIDEO BY Old Mutual Corporate - 17 March 2022 - WATCH TIME: 4 MIN

In 2021, South Africa’s National Treasury published a proposal that would significantly change the way retirement savings work and which would enable members of retirement funds to withdraw a portion of their retirement savings before they retire.

Naturally, the possibility of taking out a percentage of your nest egg years before retiring will have pros as well as cons, and the exact details are still being finalised.

In this video, Andrew Davison, Head of Advice at Old Mutual Corporate Consultants, explains what is under consideration.

  • What percentage of your retirement savings will go into each pot?
  • How much retirement fund members will be able to withdraw and when.
  • What will happen when you change jobs?
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