Two-pot retirement system | Pension fund administrators worried systems not ready
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[ON AIR] Retirement fund administrators have been flooded with requests for withdrawals. The two-pot retirement system came into effect this past week. Tune in to #eNCA #DStv403 #QuestionThinkAct | eNCAnews
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[ON AIR] Retirement fund administrators have been flooded with requests for withdrawals. The two-pot retirement system came into effect this past week. Tune in to #eNCA #DStv403 #QuestionThinkAct | eNCAnews
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Retirement fund administrators will soon be able to officially implement the two-pot system for their members as President Cyril Ramaphosa signs the Pension Fund Amendment Bill into law. This means individuals will soon have access to a portion of money in their savings component before retirement for times of financial distress. A separate portion will be preserved until retirement. #DStv403 | eNCAnews
0:31
Retirement fund administrators will soon be able to officially implement the two-pot system for their members as President Cyril Ramaphosa signs the Pension Fund Amendment Bill into law. This means individuals will soon have access to a portion of money in their savings component before retirement for times of financial distress. A separate portion will be preserved until retirement. #DStv403 | eNCAnews
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Thousands of employees have withdrawn from the two-pot retirement system. Retirement fund administrators say they have been flooded with requests. The two-pot retirement system came into effect this past week but Saftu's Zwelinzima Vavi says this system is a scam. #DStv403 | eNCAnews
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Pension fund fraud is on the rise in South Africa. In one case, maladministration was uncovered at the Municipal Employees Pension Fund due to a conflict of interest with Akani Retirement Fund Administrators. Ndou Attorneys, which represents some of the affected pensioners, says the matter has the potential to snowball into a major fraud case. #DStv403 #eNCA | eNCAnews
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