Two Pot Retirement Update - What to do come 1 September 2024

[lesleymotsoare]

This system is just a scam, basically it's more money for the tax man than me as an individual. They could have just went to the credit union and list all your credits one has and use that money to pay off some of the credit's that are pulling you down financially so that one can be In a stable like financial position.

[josephphitla]

Proper consultation needs to happen across the country

[ClementMabasa-iofj]

Well said, please keep on educating our people, we really appreciate your knowledge

[NolizwiNgcobo-ge]

This system wasn't created for the employees to benefit but for government to benefit when employees sadly most employees are heavily in debt and will end-up depending on this every year like an annual

[nosindisomyeni]

A strategy to get more tax from the already highly taxed South Africans. And they know that normal people are struggling and will opt to withdraw. Already people can’t afford retirement. Should be a last last resort

[buxeffect]

The most simplest explanation ever 👏👏 on the short term it can help with these increasingly tough economic siturations but on the long term misuse of this could lead to working up until 75+ because we wont "afford" to retire 🤔

[frankseokemoshitoa]

Thanks a million times for the clarity and the caution you gave on tax 🙏

[Sisakes]

There isn’t much benefit to this. Imagine you have to be taxed, whereas we already get taxed in our salaries. This is a rip off

[mamellothebehadi]

Mapalo’s channel explains this nicely with examples if you need practical examples
Thank you Sis ❤

[patiencemhlanga]

I have a problem with being taxed twice, our salaries and pension

[lungiswamphithikezi]

Thanks, Nicollete, for sharing this info with us. It is very helpful 🙏

[RamotsekiLesibo]

I wish the new government that will be in power from 30 may 2024 consider this new thing that has been imposed to us .

[philasandeb]

I'm resigning. Changing jobs won't give me a cashout I'm resigning.

[mmafosopitso]

Thank you for the video, I have learned and appreciate that I know what next step to take

[selfresponder]

Siyabonga Nkosazane ngokuhlaziya lendaba yamabhodwe amabili.

[MkhontoNsele]

Not only constructive financial advise but you're beautiful too. Thank you lady. Your counsel have been invaluable🙏🙏🙏

[thatotlhowe]

This tax thing hurts my little heart because the money saved towards retirement is the money already taxed from your monthly salary over the years, I am not sure why it is being taxed as a lump-sum again when you withdraw.

Our government is really milking us.

[nelsonnthala]

'Every withdrawal you make from your savings component is added to your taxable income and will be taxed at a fixed marginal tax rate at the time of withdrawal', this is the elephant in the room.
The government wants to make money more because they know people will be withdrawing from their savings.

[eX_]

Never ever withdraw money from your retirement fund no matter how desperate you are, let's rather learn to save for emergencies. Only 6% retire comfortably in SA and with this system i forsee this number going even lower😢

[Irvin_Chauke]

After retirement poverty is now certain. But again we are working hard and still living in debts!