The following is the News flash 2023/22 published by the PAGSA on July 13, 2023
regarding the Comments invited: Two-Pot Retirement System.

COMMENTS INVITED: DRAFT AMENDMENTS – TWO-POT RETIREMENT SYSTEM

Your comments on the draft Amendments Bill for the establishment of the ‘Two-pot Retirement System’ are invited.

The draft legislation is available on the National Treasury website.

One of the main issues for payrolls and employers is the proposed ‘split’ of the contribution to retirement funds at the option of the employee, and there are concerns regarding directives, UIF, and SDL.

Our comments must be submitted to National Treasury by COB on Saturday 15 July 2023 (this would be after the end of the rugby game …).

Apologies for this late request.