EDITORIAL | Proposed pension fund legislation has risky elements

The new system allows for more flexibility but does not offer much relief in the short term

09 August 2022 - 20:00

The National Treasury last week released draft pension fund reform legislation, aimed at walking the fine line between allowing cash-strapped South Africans’ early access to some of their savings while leaving most of it stashed away for retirement. The Draft Revenue Laws Amendment Bill is now open for public comment, after which the proposed amendments will go through a parliamentary process before being signed into law. If all goes according to plan, it will come into effect in March, but trade union movement Cosatu and other experts have expressed some concerns over the proposal...

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