How much can you access on 1 September 2024?
On the 1st September 2024, your savings pot will be seeded with 10% of your current savings to a maximum of R30 000.
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2 Pot and Tax
Before considering an early withdrawal from your retirement savings, it's crucial to understand the potential tax implications.
2 Pot Tax Calculator
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Early withdrawals and your savings
It's essential to carefully weigh the implications of early withdrawal on your overall retirement savings. Taking funds out prematurely can have a lasting impact, potentially reducing the amount available for your future.
Our scenario calculator shows how early withdrawals may affect the trajectory of your retirement savings.
Scenario Calculator
This is your estimated retirement balance if you opt not to withdraw from your savings pot.
This is your estimated retirement balance if you decide to annually withdraw from your savings pot.
This is only a reference to assist you in understanding the complexities of the two pot system.
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Our take on Two Pot
Exploring the grey areas of South Africa's Two-Pot Pension System
by Jaco Wasserfall | March 7, 2024
As South Africa embarks on a journey of pension reform with the advent of the two-pot system, both anticipation and apprehension swirl among individuals contemplating their financial futures.
The Two-Pot System: Are Your Retirement Fund Rules Ready?
by Hayden Naidoo | March 25, 2024
The two-pot system is transforming South Africa's retirement landscape. As many institutions adjust systems and procedures to accommodate this change, Public Officers and Trustees of retirement funds should be aware that their fund rules also require amendments.
The Two-pot System might not launch when you think…
by Jaco Wasserfall | April 10, 2024
When the two-pot system was announced, the first launch date was 1 March 2024. Then National Treasury proposed a postponed date of 1 March 2025 after pressure from the industry. Parliament and treasury then compromised with a new date of 1 September 2024. The whole industry is scrambling to meet this deadline, but I think a lot of that effort might be spent in vain.
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