As we approach 1 September, the launch of the 2-pot retirement system, many of our clients have been reaching out with the same question: How much can I withdraw? One email read “Dear Phumelele, can you please help me withdraw R55 000 on 1 September?”.

If you’re wondering the same thing, we’ve got you covered. Phumelele will be live on INX Prime, DSTV Channel 345 this evening (22 August 2024) at 18h45. She delves into the 2-pot retirement system. Some of the points that she will be covering are;

• The background to  the 2 – Pot retirement system
• The Savings Pot
• The Retirement pot
• The vested pot
• The seed capital
• The withdrawal benefit
• Tax and other charges to be levied against the Savings withdrawal
• How much you can withdraw
• Preservation funds

Please note: You are not required to withdraw. But if you do plan to withdraw on 1 September, most likely you will only be able to access R30 000, after tax and deductions.

Need more clarity or personal guidance? We’re here to help you navigate these changes. Click the button below to schedule a consultation or simply reply to this email, and we’ll walk you through your options.