After two highly successful webinars, we are delighted to announce the launch of our third Two-Pot Retirement System Webinar!
Proposed amendments to the Income Tax Act concerning the Two-Pot Retirement system, were announced by Treasury on 1 August 2024. Coming just a month before the system was implemented, these changes have introduced additional considerations for those South Africans living abroad.
Expatriates must take note of the amendments which may affect their ability to access their retirement funds.
In a significant reform to South Africa’s retirement savings landscape, the Two-Pot Retirement system was signed into law by the President on 1 June 2024. Under this system, retirement savings are divided, in actual fact, into three (and not two) “pots”: