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.

What is the estimated total value of your retirement savings?
Your estimated accessible amount is:

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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

How much would you like to withdraw from your savings pot?
What is your monthly salary?
Your estimated tax on withdrawal is:

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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

How much do you currently have saved for retirement?
What is your age?
At what age do you want to retire?
What percentage of your salary is contributed to retirement?
What is your monthly salary?

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 thinkā€¦

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.

Two-Pot: Show me the Moola!

by The Benefit Counsellor | 21 May, 2024

South Africa's retirement savings are getting a shake-up with the launch of the two-pot system on September 1st, 2024. It's a big change and many are waiting in anticipation. The two-pot system aims to bring some financial relief whilst promoting healthy retirement saving.

Copyright © The Benefit Counsellor (Pty) Ltd 2024

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