WHAT Is The Retirement Two Pot System ? 🇿🇦 || HOW To Withdraw || Explainer Video (With Examples)

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Күн бұрын

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@ChristopherHandley-ek4ul Ай бұрын

Retirement is now more difficult than it was in the past. I've been saving for a long time instead of investing, and right now I only have about $400K. considering all the inflation, i'm thinking of investing in stocks, i dont just have idea on market strategies.

@wandemiles Ай бұрын

The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.

@Adams52523 Ай бұрын

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@wandemiles Ай бұрын

Mind if I ask you to recommend this particular coach you using their service?

@Adams52523 Ай бұрын

Her name is Patricia Strain. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.

@ScottBruceman Ай бұрын

I just curiously searched her up, and I have sent her an email. I hope she gets back to me soon. Thank you

@rubyreneiloe8409 2 ай бұрын

I can already imagine high school teachers using this video to explain to the students thank you for this clear explaination

@nazikay1340 2 ай бұрын

l should have been a teacher😂

@jomaykleinhans3371 2 ай бұрын

2:05 do i have to pay back any money of i two-pot?

@bensenzo 2 ай бұрын

Why would they explain to students? Students don't have pension funds

@thandekandlovu7008 2 ай бұрын

Okuhle is the girl that she thinks she is and I love it for us

@AvheaniMakhavhu 2 ай бұрын

SARS trying to also access our money now rather than later. SARS always benefits. Thank you for this informative video. ❤

@kgothi-Bee 2 ай бұрын

🎉finally someone recognised it

@PhumulaniMohale 2 ай бұрын

these thieves

@mahlomolasaka1579 Ай бұрын

I'm in a very tight financial situation right now that I thought this new retirement regime was gonna help me get out of, but the more information I get on this new 2 pot retirement system the more clearer it is to me that my financial troubles are far from over. It's really difficult 😭😭😭

@whitey2163 Ай бұрын

Your explanation is by far and away the most comprehensible online. Well articulated. Enjoyed it so much I even watched the Zulu version and loved it just as much. Siyabonga sisi

@sizwezulu3604 2 ай бұрын

Very informative and easy to understand. I will use your link to calculate. Nice to see our own CA taking responsibility to clarify things out. 🙏👍

@lungelondlovu5053 2 ай бұрын

You really should consider being in academia, this was an amazing explanation. Thank you 🥰

@WilfredaWarner 2 ай бұрын

You work for 40yrs to have $1m in your retirement, Meanwhile some people are putting just $10k in a meme coin for just few months and now they are multi millionaires. I pray that anyone who reads this will be successful in life

@tsholom9042 2 ай бұрын

Such an informative video. Thank you so much.

@itumelengmonare6516 2 ай бұрын

🙌🙌🙌🙌you are truly amazing wow,you are an asset to the accounting industry 👏👏👏 thank you so much for this

@skholiwezondi986 2 ай бұрын

Thank you so much for this; I have been asking what is this two pot system and no one could give me a clear answer.

@DigsWigs2022 Ай бұрын

Nkosi yam. Cisho ngabhayiza. Thixo wase George Koch!

@thatotlhowe 2 ай бұрын

And here I was thinking this new sudden 2 pot system is the government's way to source funding for NHI since they cannot hike tax rates which are already high, it helps to listen to a professional who has done extensive research to teach us😊. You explained the money not withdrawn so perfectly ❤ Thank you sis.

@stanleymoswane3902 Ай бұрын

Thank you. Well explained! Very insightful and educative.👏👏

@GabrielNgako 2 ай бұрын

Thank you very much sister. The tax man is everywhere. Not helping us. We should be disciplined that is the key.

@Mabontle87 2 ай бұрын

This was very informative and easy to comprehend. Thank you Nokuhle😉

@Channel-pt4wq 2 ай бұрын

Honestly, thanks for this explanation and the Sars debt is the main reason am applying this Monday for my money so they can take what owe them because they are taking it from my salary anyways. I’ll eat whatever is left, I don’t care.

@WandileBhebula-ui9bq 2 ай бұрын

Your withdrawal makes sense. But then again while at it, find out how you get to owe sars so that you can fix that in the future. All the best.

@zahokandaba5204 2 ай бұрын

I feel you 🫂

@terrencekhumalo8713 Ай бұрын

Very informative, thanks

@walter.zikalala 2 ай бұрын

Always a professional, many thanks for your informative posts!!!

@dorcusteffo2426 2 ай бұрын

Thank you for simplifying it for me. I have a better understanding now.

@nhlanhlaboniface3826 2 ай бұрын

Thanks Nobuhle for educating us regarding this matter ❤

@Sarah.kgoale 2 ай бұрын

Very informative Nokuhle, Thank you 🙌

@thandekadikane6188 2 ай бұрын

This makes so much sense now. Thank you so much for the detailed explanation ❤.

@solomondlamini961 2 ай бұрын

Wow you are really good at your career and simplifying it.

@lindamacgillicuddy8891 2 ай бұрын

This is a wonderfully clear explanation. Thankyou

@dineosibiya2123 2 ай бұрын

You are so intellegent Sis omuhle , thank you this is gold information..

@nathinyc2923 2 ай бұрын

Thank you Nokuhle! Your explanation 👌🏾.

@Threeyearsto30 Ай бұрын

Firstly, thank you for explaining so clearly and including aesthetic visuals to follow along with!! Secondly, why are we paying tax on our withdrawals but we’ve already paid tax on our income!! Shew tax will defeat a person.

@snakhokonkeximba2016 Ай бұрын

Contributions to pension funds are deducted from your income; therefore, you are taxed on withdrawals because they weren't "treated" as income when you were contributing

@ThandekaEunice-t1k 2 ай бұрын

Life saver once again asibonge 🙏

@khatshitshisikhawe 2 ай бұрын

Your smile’s so warm! 🥺 what an informative video also, thanks ma’am ❤️

@dalenymzizi1606 2 ай бұрын

Syabonga Sisi, imina obese chazela abantu after ukubuka ma video akho'

@sphamandlamazibuko3074 2 ай бұрын

Great content, keep it up! Really enjoyed simplicity👌

@angelaprinsloo400 2 ай бұрын

What a blessing you are❤️ Thank youuuu😌

@Mzansi_shows8 2 ай бұрын

You're literally the best🎉

@njabulongcobo3644 2 ай бұрын

Kudlalwa Ngathi😢 Thank you Sisi Nokuhle

@stoneybeer1647 2 ай бұрын

Beautiful lady please help me out with a clear understanding like if you can do a video and discuss what happens if you not interested in taking the funds??

@LeornadMapheto 2 ай бұрын

Thank you 💕 fot the clarity

@shallonmotsomi2454 2 ай бұрын

Thank you so much for the Info❤

@currentmatters8534 Ай бұрын

Thank you Nokuhle for your video 👌👌 According to how I view this two pot system is that it does not benefit employees , only the government benefit the most through taxes. emagine making withdrawal of R30000(from saving pot) and receive R21 000,meaning if I want R30 000 I must make withdrawal of R38/39 000 (Why not make it a tax free widrawal?) I think government just want a share from employees retirement savings

@BusisiweNomnganga 2 ай бұрын

Very informative. Thank you

@lebohangmkhwanazi9295 Ай бұрын

U make very simple fo me

@keneilweramoshu1163 2 ай бұрын

thank you Nokuhle , beautiful smile by the way

@ntsakomavunda9018 2 ай бұрын

Informative, thank you so much .....

@TebogoTsolo 2 ай бұрын

Beautiful thanks for the knowledge

@thomasmtontsi4128 2 ай бұрын

This decision to give access to the pension in the way of two pots... comes at a cost

@tumeloramasike180 Ай бұрын

Thank you !!!

@zahokandaba5204 2 ай бұрын

This two pot system is a scam, the only person benefiting here really is SARS aka government and it’s sad cause we are really financially distressed 😢

@kgathomamakoko9990 2 ай бұрын

That’s soo true, it’s the biggest scam

@dineosibiya2123 2 ай бұрын

I feel you..yooh

@Nthaby1 2 ай бұрын

My thoughts exactly 😢

@Rara-hx2kh 2 ай бұрын

Very informative video, thank you Nokuhle! One question tho (on behalf of a family member), as someone who has been in a provident fund for 30+ years but has never filed any tax returns themselves, how will this affect their taxes for this 2024/2025 period? How does one declare this new once-off increase in income? Also by when should it be done? Who should they approach to ask for help?

@GalaxyAds101 Ай бұрын

Can you please explain as to why tax these pension funds? Because on my understanding, this is not an income, nor a new income...

@qaqambangotana9199 2 ай бұрын

May I please ask why tax money that was taxed every month with your salary?

@wilmajansevannoordwyk984 2 ай бұрын

When you contibute to a retirement fund - that contribition is deducted before calculating you tax for the year.

@kimberlybobotha5991 2 ай бұрын

I understand now ,thanks ❤

@refiloemabena687 2 ай бұрын

You the best

@ZaneleNyathela-im4vz 2 ай бұрын

Thank you for the clarification, though it left me hopeless...can I get the link for calculations

@ruuuruusamsr1891 2 ай бұрын

Now what if I die before 65? Hai ngeke kuningi…. And we dying

@Ola.lady_P 2 ай бұрын

I hate this 😂

@kgothi-Bee 2 ай бұрын

Your beneficiaries will be the ones who will get access to benefits that’s why it’s very important to make sure that you nominate beneficiaries with your RA funds.🫂it’s the same thing if you had died yesterday it would be the same the benefits would have been paid to the beneficiaries.

@Purple_Ros3 2 ай бұрын

😂😂😂😂😂Sis😂😂😂😂,even the tax bracket is not discouraging you 😂😂😂

@TangLi-e3p 2 ай бұрын

The ones left will bhubhudla it😂😂

@zeezor 2 ай бұрын

uyalingeka, ungayikhiphi😂😂

@mosimamaheya235 2 ай бұрын

Thank you so much.

@NobuhleNtombela-yw9vh 2 ай бұрын

Thank you cc

@DinnieGama 2 ай бұрын

My understanding is that, with Provident Fund you can access all your money when you retire or resign where as with Pension Fund - you get 1/3 upfront and then the 2/3 in drip & draps prior to the 01st September 2024. Please clarify that part.

@phiwelove 2 ай бұрын

No, it does not matter whether you have a provident fund or a pension fund, you will receive 1/3 upfront as a lumpsum and 2/3 as an annuity

@pulengmoh5154 Ай бұрын

But I don’t understand how could Thandi withdraw R38 000 when the maximum is R30 000? What will the total savings pot amount be at retirement if they only choose to withdraw once this year only and never again? Because I mean it won’t be like they’ll be left with zero?

@topiepo 2 ай бұрын

Thank you for this Video i just need some clarity please , on the higher tax bracket, is that only for the withdrawals or it stays there even on your normal monthly salary ?

@siphelelengcobo215 2 ай бұрын

What if you resign after 01 September 2024. Do you get the full amount on the vested pot at 21 August 2024?

@ndlotipetros6536 Ай бұрын

Thanks Nobuhle, but yhoo SARS is like a double tax because monthlh tax and now you access your money tax again yhoo SARS

@J_Looks 2 ай бұрын

Did you say the retirement funds will only be accessible at the age of 65? Why 65 when early retirement age is 55? Again life expectancy in SA is 60 so this thing is unfair for the working class

@lifeandtabroad Ай бұрын

hmmmm, I like how you speak!

@pelgrinesanelisiwecele8462 2 ай бұрын

What happens if one doesn't make any withdrawals from the savings pot till retirement

@lubabalomoyikwa8063 2 ай бұрын

She covers that question towards the end of the video. She said, all that money will be paid out as a lump sum at retirement

@JamesBrown-lq5nn 2 ай бұрын

Great video thank you❤ 13:06 Does the vested POT not become the new Retirement POT

@JamesBrown-lq5nn 2 ай бұрын

Minus the 10% of course for the savings POT?

@yenziwembuyisa2550 2 ай бұрын

I learn so much laykhaya bandla thank you Nokuhle

@KegomoditsweMotsumi-fo2we 2 ай бұрын

It's a scam if I'm fired or the company is no more I won't be able to get my retirement money I must starve till retirement age... Or am I wrong?

@kgothi-Bee 2 ай бұрын

No it’s not a scam…. You are wrong. Right now you are still marketable and young and you are able to find another job… Remember the main aim of this money is for your retirement ages when you are no longer energetic. Your company can die but your pension remains at the fund… Your company you work for is not the fund where your pension money is kept.

@AbigailJulies-n9x Ай бұрын

can u make a video where we change our passwords

@micado_m3 2 ай бұрын

What happens at retirement? Do you get 1/3 of the total of the the 3 pots or u get a 1/3 of (vested pot plus savings pot)? Because the vested pot will have its own rules at retirement.

@salmarakalala7953 2 ай бұрын

What if my salary is not enough to be text but I I'm contributed does it mean also my 30000 going to be taxed?

@samzit7387 2 ай бұрын

Question: is this 10% start-up a once off or will it be added annually (beginning of each financial year) to the savings pot?

@lubabalomoyikwa8063 2 ай бұрын

What happens if one dies just a few months/years after retirement? What happens to the remaining amount?

@wexmalaza8573 2 ай бұрын

Does this mean at retirement one will not get the one third of his retirement when he retire if he had been withdrawing the money all the years?

@FisokwakheEricSithole Ай бұрын

Can you please tell me ngabe kukhona yini lapho okuku affect khona if unga claimed lama pot

@nathinyc2923 2 ай бұрын

What happenes when i get fired/ resign, do I also get the vested pot?😮

@mmapuleramotlhale6999 Ай бұрын

What of us who do not earn enough to pay tax. Are we also going to be taxed should we choose to claim from the savings pot.?

@noxolominyelela6533 Ай бұрын

Hi cc Nokuhle so do UIF holders quality for this 2 pot system?

@pennythaanyane624 2 ай бұрын

If I resign will I get my Savings Pot as a lumpsam?

@bhekimate2247 2 ай бұрын

On the second example(Thando) how is she able to withdraw or request to withdraw R38something, isn't the maximum R30000? Please clarify 🙏

@micado_m3 2 ай бұрын

On the second example the withdrawal was in January of following year not in September

@bhekimate2247 2 ай бұрын

@micado_m3 okay, so from January next year withdrawals of more than R30000 are allowed?

@ZaneleNyathela-im4vz 2 ай бұрын

No it accumulates money

@MagadiSebogodi 2 ай бұрын

And if one has pension fund and retirement annuity can you assess from both?

@MichelleWilly Ай бұрын

The only thing I don’t understand is why does this amount have to taxed as well? We already work hard and do get taxed. Why do savings get taxed?

@abella2462 2 ай бұрын

But why are we taxed twice if you wanna withdraw coz we already paid tax on that amount.😢

@nokuhlekumalo 2 ай бұрын

Not really - your retirement contributions actually decrease your taxable income (during your working years). So you only ever get taxed at retirement (but there are large rebates first, thus making that tax seem smaller) AND now you also get taxed at early withdrawal (since the amount had never really been taxed).

@zahokandaba5204 2 ай бұрын

Yes we are taxed twice cause we are taxed now accessing the saving and we will be taxed again on retirement

@mnqobicele7710 2 ай бұрын

Good morning, since they have introduced the 2 pot system, what happens to my money if I get fired/dismissed from work at the age of 31 years, do I get all my money since I am not going to another job?

@williamtlhoale5605 21 күн бұрын

Hi. So what happens if I have more than 5k available for withdrawal in the savings pot, but generally, my salary has not reached any tax level yet. When I withdraw, will I still be taxed and how since I have not reached any tax bracket yet?

@MagadiSebogodi 2 ай бұрын

Okuhle please answer some of our questions please please. are the any age restriction for beneficiary

@franciszazi5040 2 ай бұрын

What about those whose provident funds is only 340 every month?

@wusheTvproductions 2 ай бұрын

So lemali ethathwa uSars uyakwazi ukuthi uphinde uyi claim next year masekwenziwa ama returns akwa Sars?

@Shai_Ntontela 2 ай бұрын

Good morning how will it benefit the migrate who wants to go back to their home

@BulelaniShube-lh8pp 2 ай бұрын

What if you getting another income and it was less taxed and now you owe SARS because of it , would SARS gonna tax to according to it or according to your salary you getting from work since tax numbers are not the same ?