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Two-pot retirement | System kicks in on 1 September 2024

Current Johannesburg mayor Dada Morero
Cape Town graveyards vandalised
City of Joburg emergency management services firefighters attended to the fire.
File: Former deputy president of Economic Freedom Fighters (EFF) party and new uMkhonto weSizwe (MK) party national organiser Floyd Shivambu speaks during a press conference in Sandton, Johannesburg on August 22, 2024. 
City of Joburg emergency management services firefighters attended to the fire.
Avbob Investment Plan
The much awaited two-pot retirement system is coming into effect in less then 10 days. 
From September the 1st any retirement funds put away by workers or their employers on their behalf, will be held in two pots.
EXPLAINER | Two-Pot Retirement System | What you need to know
Two thirds will be held for retirement and cannot be drawn out sooner.
One third will be held in a savings pot and it can be accessed.
The SA Federation of Trade Unions says workers who are drowning in debt or become unemployed need to access more.
The Public Servants Association’s Claude Naiker discussed this with eNCA. 

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