South African Federation of Trade Unions Rejects New Pension Funds Amendment Bill

This video examines the South African Federation of Trade Unions (SAFTU) rejection of the newly signed Pension Funds Amendment Bill. The bill introduces a two-pot retirement system designed to enhance retirement savings. Still, SAFTU criticises the rules of the second pot component, which restricts access to retirement funds until retirement age. SAFTU argues that this could hinder workers who face dismissal or retrenchment from accessing their pensions. We speak with SAFTU spokesperson Trevor Shaku, who sheds light on the union's major concerns, their suggestions for reform, and the potential impact of this new system on workers' savings. Watch now to understand the implications of this legislative change.

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