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

[@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

[@FinancialBunny]

But you also don’t have to withdraw

[@lusancanywa8191]

Sad, cause we need it.

[@phumimabanga962]

​@@FinancialBunnyTimes are tough, so 70% of people are going to withdraw

[@maureenmaluleka972]

​@@phumimabanga962I am definitely withdrawing

[@AstrologicalLesedi]

Even on the current system it will be taxed. What most people don't know is that thes a tax benefit on monthly payments to Retirement funds so you are currently paying less tax than what you should be potentially paying. I don't disagree entirely, it definitely feels like a "scam" but it's less than what it looks like

[@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

[@nomvanoduma9221]

Also, it helps to have another retirement plan. I'm definitely withdrawing mine because why should I suffer now when tomorrow is not promised.

[@dabeezkneez8716]

​@@nomvanoduma9221 Consider the tax implications carefully. I understood from another video that the tax at a nominal rate means that your yearly tax could increase as the withdrawal could push you into a higher tax bracket when added to your annual salary. It's worth investigating. This is govt's strategy to tax the up to R550 000 that would have been your tax free entitlement upon retirement! People are not going to be left with that much cash out on retirement at all if they withdraw so they would have forfeited on getting R550 000 tax free. Smart govt, woe is us!

[@xolelafaas5784]

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😢

[@nhlanhla.vchili960]

Exactly, more problems are coming. Money will run out before a person dies 🤞🏾

[@nkosinathindala4745]

A lot of people, especially government employees, die before they "enjoy" their retirement funds. It's a tricky one.

[@xolelafaas5784]

@@nkosinathindala4745 it's not deep bro, don't over analyze it.

[@Thabsile_Thwala]

I resigned and withdrew the entire thing and went back to school. This “never ever withdraw money” you are saying really doesn’t cut it unfortunately!

[@frvrsanj]

Life is not a fits one fits all glove.

[@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.

[@user-ej4im9qo2e]

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

[@buxeffect2654]

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 🤔

[@FinancialBunny]

Absolutely and hence why we shouldn't withdraw just because we can please

[@frankseokemoshitoa1601]

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

[@sphamandlamazibuko3074]

Thanks a lot. Very educative and enlightening. Keep up the good work!

[@lungiswamphithikezi7159]

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

[@smangalisoradebe1891]

this was clear, well explained, for us people who just joined the finance industry

[@mmafosopitso3715]

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

[@kelvinnaidu6329]

I've studied this system very closely & firstly there is 3 Pots ( Vested Pot ) not just 2 .People ...I'm speaking to the hard working , honest tax paying citizens that have actually contributed to the economy of this country irrespective of the financial crisis this country is in right now .People don't withdraw any money from your savings don't be tempted .Just leave it for now .Reason being is this whole two Pot system is not actually to benefit you .The masterminds let alone the people that run this country are milleniums away from constructing smart systems to bebefit you let alone this country .Invest your money offshore/property/gold if you can from now & be very wise about your savings .Do not touch your retirement funds .Give it one to two years to confirm what I'm saying .No more than that .

[@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 .

[@banelekekana9365]

Really needed this video cause wow 😅thank you! 🙌🏽

[@patiencemhlanga7544]

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

[@nangamsoflatela3176]

Thank you Coco. Very clear 🙏😉

[@philasandeb]

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

[@bongumusasokhulu260]

That's hectic that we have to resort to such 😢😢😢😢

[@nontuthuzelombo1923]

Be careful dont let easy come easy go impoverish you ,when you retire.That is not a wise decision at all.

[@lorindafredericks6980]

If you intend on resigning, do so before the end of August 2024, otherwise you will only receive a portion and the rest you will receive on retirement age.

[@loganpadayachee6048]

Daylight robbery it's our money we must decide what we want to do with it not be dictated to

[@AstrologicalLesedi]

Thanks Nicolette ❤

[@MkhontoNsele]

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

[@kgjaqe1169]

Thank you ever so kindly!

[@prudencelubanyana1351]

Thank you so much for this explanation

[@ladyr8744]

Thank you so much for the information.

[@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.

[@FinancialBunny]

Money contributed to retirement fund is before tax.

[@Gubevuh]

Yeah retirement money only gets taxed when you excess it.

[@AbsoluteInference]

​@@FinancialBunny That's not entirely true. Money contributed to an RA uses post tax amounts and you only get a refund when you do your taxes once a year.

[@Matita_Sipokazi]

@@AbsoluteInference Actually no, you get a tax deduction if you contribute to a pension fund or RAF. When you get a refund from SARS it maybe because you r contributions are not linked to your “salary/ payroll processing meaning that sars will only find out about it after the end of the year of assessment.

[@nom23y]

Thank you for the clarity Sis Nicolette. I was wondering about the tax side of things. I now know to leave that money as is,and never withdraw anything it's not really worth it 😅

[@FinancialBunny]

Remember you use tax free funds to contribute to a retirement fund unless it’s an RA.

[@tshepomasia4627]

i foresee a lot of people resigning before September, imagine being told you cannot access your money and you can only do so when you reach retirement age😅😅😅, i'm sorry but i for one cannot leave that up to the government(Steinof shandis). thank you for the video.

[@Lorato_lee]

True, the government is bad at investments, their borrowing habits are also questionable, yet they see it fit to parent us on our finances

[@philasandeb]

I'm still asking myself what will happen if i resign and stop working at 40 years, which is not retirement age... will government wait until I'm 55to give me my money

[@KofuJuiceBar]

And you ask yourself, are the funds even there to begin with yhooo ai no.

[@doreenntuli7705]

My sister was working for post office 30yrs,then there were retrenchments she was not retrenched she took early retirement because she is 55yrs in February,she's been waiting for her payout since and she's been asking the HR,they said they'll give her UIF which they gave to her as a salary in June.Now they want her to come back to work,they sent her a form to fill to confirm that shes coming back, she asked abt retirement payout,they just talking about UIF which she will get as a salary every month.Question is where is the pension money?Is it still there?

[@nompilonkomo1057]

​@@KofuJuiceBar bayidlile laba imali yethu🤬

[@snenhlanhlamashile6398]

Thanks Nico

[@nonduhgwala6665]

Thank you so much ❤

[@nelsonnthala307]

'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.

[@bonginhlanhlangema7125]

This is exactly what I thought.

[@FinancialBunny]

I suspect the 15 billion they are trying to raise

[@sasashongwe]

I read that R27500 is tax free. I don't have a lot of information on it though

[@petruslebese4577]

Very true man

[@frederickhefer3442]

@@sasashongwe They said most ppl will pay about 9k in tax on the amount of 30k

[@mrmdk352]

You made this very clear. I didnt understand it before but now i do

[@FinancialBunny]

I am glad I could help

[@Zamazizi]

Thanks for the video. I am glad there’s a limitation on the amount that can be withdrawn.

[@Ntshunxeko]

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

[@taniathovhakale771]

Yoh id honestly withdraw for travel nothing else. Cause my youth years wont come back in retirement 😂

[@dabeezkneez8716]

Great idea for those of us with a 'do or die' attitude. We may as well enjoy the already plundered remains of the fruits of our labours while the body is able!

[@HartleyCooking]

100% the plan

[@kgabomathapo3687]

Me too 😅

[@kearam2012]

But guys I'm also in the financial sector, but it still doesn't make sense that the amount was taxed prior being saved. Why is the government taxing it again

[@nom23y]

Very good question, wonder if it was ever raised in the decision making process and answered truthfully 🤔

[@portiasibandar4067]

My question exactly!!!

[@qnationproductions6079]

I’m with the employer and the amount that is saved in my pension is not taxed. My salary is only taxed after the deductions of my pension contributions hence the government taxes when we withdraw money from our pension funds. It might be different with you though.

[@mtswene]

RA and Pension funds are not taxed, instead, you get a tax refund when you file your taxes

[@therlocoetzee7812]

We are being robbed

[@sirantonymhlanga2386]

great explanation mama. thank you.

[@palesankosi471]

Yoooo very informative, thanks gal!❤

[@sibulelomphetshwa6262]

Very insightful

[@matomeseabi]

Thank ngwanesho for simplifying this for us, so eloquently

[@FinancialBunny]

Thank you brother

[@yandisangundze]

Informative. Thank you.

[@mishoxprojectsandcommunica3720]

Mina I need my money. Life after pension not guaranteed

[@diphalepashe5361]

You can't receive your retirement money while you are still working. You only receive your retirement money when rich the required age

[@mishoxprojectsandcommunica3720]

@@diphalepashe5361 I mean that small portion.

[@bgonya06]

What if you live? What are you going to live off?

[@mishoxprojectsandcommunica3720]

@@bgonya06 I will cross the bridge when I reach there. But this 30K portion. I will take it all

[@velisermjarley3650]

Yes 😂😂😂

[@ZamuxoloQoloza]

This is nonsense what can you do with 30 000 Wich gonna be taxed

[@user-zs2wu8vh9v]

Perfect,simple explanation

[@user-fc9pp9qv2c]

Very educational

[@conradrichards3363]

So its a mechanism for releasing more money into the fiscus to be taxed so govt can pay the grants and pay their shortfall. There is no.proper vision forward.

[@petermpati9307]

absolutely bro,im very worried about this system,i wish it could fail so our money stand there till we retire,this is clear robbery,imagine the tax man,and a lot of instructions over there,people need money now,that's why robbery is escalating

[@The-prosperity-Hub]

Hi Mcoco thank you very much for the valuable information but can I be nosy and ask you to show us the books in your shelf behind you there. It creates curiosity. I tried not to ask about it but hey, I just couldn’t keep it in anymore. I also wish I could one day be able to present myself to confidently. I first met you in 2017 or 18 and my life changed a lot. I also read “What’s your move” cover to cover. You are jewel sis. 🙏🌹

[@user-zm2os1lv4r]

Valuable information. Thank you for sharing

[@user-xk2mu7tq2n]

True let people save money Money doesn't save itself. Every money that you get save at least 50% of that money If you are 5years to your retirement never use your bonus anymore Save it all you won't regret it They say money has one promise if you save me 2day I will save you 2morrow M

[@tersiaphiri1103]

Thank you so much, the video is informative.

[@MizzAP4]

This was insightful. Thank you for the video.

[@thuthukakubheka9052]

It should have been called two toilets 😂😂😂we will be flushing our money here

[@GladysLambard-ff2em]

Hayi bo nikani abantu izimali zabo there are many peoplle who are alredy die cant even reach that retiament fund ekubeni kudala basebenza

[@HartleyCooking]

So what happens to your vested pot from next financial year .you will have access to saving pot.will you have access to your vested pot?or only a 3rd of it.

[@tlp3482]

What happens when one is retrenched? Do they still hold your pension till your retirement age? This would be disastrous for a lot of people

[@Gracy_Plaatjies]

Honestly, cz that wasn't ur choice but that of the employer thus u should be able to claim all of it.

[@vejam1378]

Employees need to understand the capped amount and the tax implications. For me it is really not necessary to take the R30k now unless you have an emergency and don't have an alternative.

[@FinancialBunny]

Totally agree if there is no reason to take the money don’t do it

[@mokolaericaphamuli355]

Seeing that there is a savings pot instead of requesting money can I add something like R500 to that pot.

[@FinancialBunny]

@@mokolaericaphamuli355 you can only contribute to the savings pot via a retirement fund and only 1/3 of it goes into the savings pot and the 2/3 into the retirement pot

[@philasandeb]

​@@mokolaericaphamuli355why would you willingly give government your money

[@giftmokoena3757]

Exactly 🤣 ​@@philasandeb

[@mlubinda1620]

For thise with both Pension and RA. Can one withdraw the 10% from both or are we limited to just withdrawal from one vehicle?

[@sphadube1423]

I wonder which debts burden can be erased by 21k after tax ...since they say its gona be a relief to SA workers ..mxm...they had to squeeze the economy through stealing to be in such shambles...they knw well pp will be desparate ...disgusting nje.

[@phumimabanga962]

Thank you for clarifying sisi, however I will be withdrawing come rain or shine. Times are tough and I doubt I will reach retirement age anyway

[@krazzyvibestv8657]

What makes you say that

[@phumimabanga962]

@@krazzyvibestv8657 I have a chronic illness

[@nosiphiweradebe3846]

Yoh Phumi😢

[@yogigoyi]

Haibo,I rebuke your own words,you will see retirement years and flourish and enjoy it...please watch your words over your own life,you work too hard.😅

[@nhlanhla_magz928]

Hi Nicolette. My question is how will the interests be calculated between the two pots, will they be calculated separately or it will be a summed. And will it impact the compounding which would have been accumulated if savings remained in 1 pot?

[@dabeezkneez8716]

Important question and nobody I have watched is answering these types of questions that most of us have.

[@josephjafta2132]

They introduce law, without asking people by referendum or other means, gone is our money

[@masabathatsenase4444]

And with this corrupt government, who steal money every day, they can end up saying no money for pensioners, so I am going to bubuhla my money, come September 😂😂😂

[@promisephala2147]

Me and you same WhatsApp group 🤣🤣

[@TheycallmeBanie]

Exactly I agree. Let's enjoy our share while we are still alive. PPL didn't get a chance died b4 retirement

[@GloBusiPhiri]

Add to the pls 😂😂😂the money can just dissappear and then what....

[@CrazyAi166]

Thats what I also think ,like Vbs😂 ..eish I will take R30k...which is 21k after tax😂😂😅not here to suffer

[@jeromedamonse5610]

Any suggestions where to put our money now like annuity before the 1Sept

[@sabeloshezi6720]

What if i resign and cash out before September 2024, can i get my entire lump sum? Tax will be steep however i really don't trust this government

[@sfisosimelane7479]

Aih I'd rather stay away from my retirement fund yoh. Thanks for the info.

[@pheladishaks6226]

Im also bhubhuhlaring my own ❤

[@Joe1102]

It was supposed to be optional, if you get retrench and struggle to find job again, you gonna suffer while waiting for retirement age to access your money, you will end up losing your property.

[@mmakwenajesca6802]

Iyohh R30k cap though😂😂😂they not serious, they should just say that 10% without the cap coz now it’s not worth it

[@stephnepuseletso126]

How much do they taxe the amount and starting from 1st for September if you resign you are not getting funds?

[@frederickhefer3442]

About 9k for most ppl if you take 30k

[@richardshozi2007]

What then happens to the third pot ( the vested pot) after they have seeded the savings pot with 10% Will I have access to my vested pot upon resignation after September 2024? Is it also only available on retirement? How about upon retrenchment or dismissal? Or at the end of a fixed term contract? It would make sense to only lock the pot made up of the 2/3 contributions but not the vested pot. There’s really no benefit to this for the consumer. The government will be the biggest winner. They have finally found a creative way to dip their corrupt hands into our savings

[@user-by7qj7lc7y]

How much is the admin cost and how much % tax they will deduct?

[@IvanadamsIvan]

We as the employee allowing them to control us we must all say no they going to tax us all the time they making money out of us

[@nomthandazomasango7019]

The information I got from Alexander Fobes is that, If I resign after 1st of September, I can still withdraw all my previous contributions to my fund, but the ones I will contributed starting from September can never be touched.

[@PhumzaNtsunguzi]

Is what I heard also sis

[@ntemantholi8609]

That's my understanding too

[@user-gw7uw1eb8v]

I'll take it because this the only chance to taste it ,as little as it may because my line of duty doesn't guarantee me a chance of retirement 🤞

[@Ponchables]

What do you do for work?

[@michaelhlongwane697]

Who's the lady on video and what company does she represent? Same topic was on air on SAFM with Brian Harsh.

[@edwardbhengu7864]

This is not going to benefit us as workers, but financial institutions,which are still a threat to the life of the poor especially the black

[@thabosehwana]

Can't I withdraw all of it? 😢

[@Mr_V974]

@financialbunny, If I have already withdrawn 25K 16yrs ago tax free, will I be taxed again if i decide to withdraw again with this new change?

[@FinancialBunny]

Yes, anything you withdraw is taxable income. Remember you contribute to retirement funds before tax

[@valentinendlovana9537]

⁠@FinancialBunny So should one resign before 1 September you can withdraw all your pension contributions? After 1 September you can’t access your pension until retirement age? Kindly please clarify. Please and thank you ❤

[@ipelengmanthaaa49]

Imagine..this is soo wrong

[@MarthaMaumela]

Very informative.it is not wise to withdraw.

[@sibusisondlovu7706]

Very dangerous DEBT TRAP - In future pensioner s will be poorer - This is no different than - ISIDUDLA - Name given to teacher who take early pension - blow the money and come back for re-employment.

[@penuellmatlala321]

You can only withdraw 10% of 1/3 of your funds, not 10% of the whole amount. Please update accordingly.

[@FinancialBunny]

Please explain further. My understanding is that 10% and up to R30K of your existing funds will be seeded into your savings component and that’s what you can withdraw

[@penuellmatlala321]

@@FinancialBunny let's say the total funds are R300k, you'll only be able to withdraw 10k (10 % of a 3rd of the whole ie 300k)

[@FinancialBunny]

@@penuellmatlala321 I don’t think that is accurate. If your current fund has R300K, only 10% or up to R30K of it will be used to fund the savings component. That’s the amount you can withdraw and you must have a min of R2000. That’s my understanding

[@dabeezkneez8716]

​@@FinancialBunny Hi , I think the 'Vested ' portion needs more exploration here. Is it correct to say that the vested pot, is the ENTIRE funds existing on September 01, which then 'seeds' the Savings pot ? Hence , 10% up to a max of R30 000 of the 'vested' pot goes into savings. My understanding is that apart from this, nothing in the vested pot is subject to one thirds. Please explain what happens to the vested pot on resignation? Is it fully accessible subject to tax? What happens upon retirement? The same?

[@jamatsotetsi5949]

What happens to my provident fund that existed before 01 September....can I cash it all out if I resign after Sept 1?

[@nomthandazomasango7019]

According to information from my side, you can only withdraw all your previous contributions in case you resign or get retreached after 1st of September but any other contributions from the 1st going, you can not touch it. Information from Alexander Fobes.

[@gordenmg4966]

So there is no need for RA then i cannot double save for the uncertain future, nowaday you can never be sure of what the future hold.

[@ncaneclaire4597]

Hi Nicolette,my question is not related to this topic but need your advise if I have a fixed deposit of about 3 years it is almost a year old and I feel over indebted can't I borrow from my invest and return the money borrowed before maturity or rather cancel the fixed deposit ?

[@frederickhefer3442]

Not Nicollette but speak to your financial adviser or the institution where you have a fixed deposit. On most fixed deposits there are penalties if you withdraw earlier. They normally will not allow you to borrow an amount from the deposit. And in most cases even if they do it might be more than the penalty.

[@ncaneclaire4597]

@@frederickhefer3442 thank you,much appreciated

[@ThokozileMkhonza]

So the funds that are sitting in the saving component, does it accumulate interest? Or its just removed from your total contribution and it's just sitting there? 😞 Is the two pot automatic or you have to opt for it?

[@FinancialBunny]

No it’s still part of your retirement fund. It’s just accessible once a year when you need cash. Please ask your fund administrator about opting in. Remember it will be the new law from 1 September for retirement funds so there isn’t opting in

[@King-Mandla]

Yes the money does accumulate interest also on the savings pot.. 🙏🏿

[@keithprice7931]

The law says u only pay tax after 27500???so if i take 30000 i only have to pay 450 tax on 30grand right..

[@conradrichards3363]

Can you leverage a loan against your RA for a loan for an income bearing project like buying lanf and building a residence for rental. Its seems unfair that a finance corporation can use our funds to buy property but as an individual you cant and be taxed again if you withdraw full amount

[@frederickhefer3442]

Yes you can get a loan or surety for a loan if you use the funds to buy, build or renovate your home. This is heavily regulated by your fund's rules and the board of trustees have to decide if they will allow you to do so. There might also be tax implications. Many funds do not allow this.

[@thee_Miss_Pabi]

I’m not sure if I understood, what happens if you don’t withdraw from savings pot in a year since you’re allowed to withdraw once a year or you don’t withdraw until the retirement ?

[@FinancialBunny]

you are allowed to withdraw from savings only once a year. if you don't withdraw you will take that money into retirement. There is no force to withdraw

[@thee_Miss_Pabi]

@@FinancialBunny thank you. I now understand

[@mamolewamodiba9159]

I am entangled in a situation, in summary; i left my job in 2021 took all my pension money deposited into my RA. Now, still unemployed i cant contribute towards my RA. Will this affect me when i want to withdraw?

[@sourichmoroasui4742]

From a layman's perspective I wouldn't think you will be affected in anyway. Remember the RA money is still your money which suppose to grow in interest whether you are contributing more to it or not. The change that the current pension law amendments seek to do is to enable you to withdraw some of your saved money, which you could not ordinarily do before. I hope that I am right.

[@pinkpearlsaps8]

Does this apply to us people who were retrenched and whose RAs are now paid up meaning we no longer contribute

[@FinancialBunny]

The reform takes place 1st September 2024. If you are no longer contributing to a fund then it won’t apply to you. But essentially if you wanted to withdraw then monies from your existing RA can be used to seed the savings component. Only 10% or up to R30K

[@pinkpearlsaps8]

@@FinancialBunny thank you very much for the clarity and enlightenment

[@dabeezkneez8716]

​@@FinancialBunnyDoes the extension to 1 September mean that anyone retiring before then will still fall under the old rules? Ie. They can get all their money subject to tax? How about GEPF? Please talk about this as this is most on people's minds.

[@TshepoLerata]

So what will happen t my retirement funds ,when I get fired or get retrenched .

[@nosiphocele9141]

😂😂

[@mishoxprojectsandcommunica3720]

Nico, you are beautiful xem❤

[@gigiolajide6521]

😂😂😂hebanna!! FOCUS ! young king!

[@Katlegogmk]

Why did they introduce this ridiculousness in the first place? They should have let us drown in debt. We were fine. This brought so much excitement and confusion in the beginning.

[@matriciamoses]

😂😂😂👌💯🤝

[@dibosmunsi699]

What is going to happen when I resigned from work or been dismissed am I going to withdraw all my pension fund?

[@frederickhefer3442]

You will get one third and the other 2 thirds only on retirement. I stand under correction but if the amount is under R250k you will be able to withdraw it all.

[@KiraZungu-us6nb]

You are beautiful 😊

[@Lorato_lee]

What I wonder with regards to the retirement portion is, in a divorce, will they no longer give the former partner part of your 2/3s?

[@NokuthulaSifunda]

This question is important

[@akalu7920]

Was disappointed to hear that the amount one will have access to, is capped at R30 000 only (less tax)😩.

[@user-ip9bw4lo9y]

Regret not withdrawing my money when i was changing jobs and am gonna do all I can to withdrawal all before 1st September

[@chaukelattovulture106]

Blow by blow.

[@nosiphocele9141]

😂😂

[@themaboes]

Oh wow, I didn’t think RA will also be in the mix for such, I wonder if one has both, will one be able to withdraw on both in a single FY!?

[@HartleyCooking]

You will be able to withdraw from each fund you have

[@frederickhefer3442]

@@HartleyCooking But only allowed up to the minimum per year so you may not be allowed to receive 30k from one and 30k form another.

[@HartleyCooking]

@frederickhefer3442 for this financial year.they didn't say anything about maximum limits further ,so maybe if your contribute alot your will be able to take out more if needed.

[@HartleyCooking]

@@frederickhefer3442 30k per fund as I heard it.

[@ms_busybee5315]

If you have an RA and Pension fund can you withdraw from both policies?

[@lindokuhlemadonsela917]

No, RA only allows you to withdraw at your retirement age of which is 55yrs, but Pension fund will allow you to do those withdrawal's for two pot system, consider the tax as this lady says.

[@ms_busybee5315]

@lindokuhlemadonsela917 thank you

[@frederickhefer3442]

@@lindokuhlemadonsela917 You are incorrect you will be able to wihtdraw from your annuities also.

[@hezekielmsibi]

Yeah the future is not promising. I better use what is given before vanishing😂😅