https://newsletter.en.creamermedia.com
Africa|Financial|Service
Africa|Financial|Service
africa|financial|service

South African pension withdrawals since reform up to R35.1bn

An office block with the Sars logo

Photo by Reuters

19th November 2024

By: Reuters

  

Font size: - +

 South Africa's tax service said on Tuesday that pension withdrawals in the 11 weeks since a reform took effect allowing people to make partial withdrawals before retirement had risen to R35.1-billion.

The South African Revenue Service said on October 11 that R21.4-billion had been paid out since the September 1 reform.

The "two-pot" pension reform is meant to support long-term retirement savings while offering flexibility to fund members in financial distress.

It is expected to spur economic growth in the final months of 2024 and boost the government's tax take.

Edited by Reuters

Comments

Latest News

Magazine round up | 21 February 2025
Magazine round up | 21 February 2025
21st February 2025

Showroom

Avlock International
Avlock International

Avlock International is a leading manufacturer and distributor of Specialized Fastening Systems.

VISIT SHOWROOM 
VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 21 February 2025
Magazine round up | 21 February 2025
21st February 2025

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.075 0.162s - 185pq - 2rq
Subscribe Now