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A clash between the latest Pension Fund Act and the Divorce Act could be in the offing, although not immediately.
This is because the Pension Fund Act prescribes the two-pot retirement system, which has created two pots, namely a savings pot and a retirement pot.
From 1 September 2024, no one will be able to access their retirement pot until they actually retire.
Pension fund members will be allowed to have access to their savings pot, which will represent a third of their retirement savings.
So this begs the question, will divorcees be able to access their ex-spouse's two-thirds retirement pot?
Nompumelelo Siziba filed this report.
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