Chennells - 'two-pot' pension system opens up for fraud
President Cyril Ramaphosa signed the 'two-pot' pension system into
law. The system allows access to retirement savings without having to
resign. Discovery's Guy Chennells says this is a needed reform,
however it opens up opportunities for fraud.
Tune into Newzroom Afrika DStv channel 405 for more.
Пікірлер: 4
This is the worst idea ever !!!!
The must this thing
A disaster for future pensioners. Most people have no self discipline and the govt. will make a killing in taxes. Keep in mind that every withdrawal will come off the first R500 000 tax free when you choose to take a lump sum upon retirement.
@ARI_ARI...
Ай бұрын
Agreed. I think a lot of people don't understand the tax implications of withdrawing from a retirement fund before retirement age... As you said the tax free R500 000 withdrawal goes out the window. The taxpayer will not receive the full R30 000(say they withdraw the maximum amount from the two pot system) because its going to be taxed at their marginal tax rate.