LISTEN | Clearing up misconceptions about the two-pot retirement system
Don’t compromise your financial future based on hearsay: Old Mutual expert shares facts about the new pension scheme effective from September 1 2024
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Is there any truth to the rumour that the two-pot retirement system, effective September 1 2024, will restrict access to your retirement savings? Or that you'll have access to all of your retirement savings and can withdraw them without being taxed?
Thabo Hollo, programme manager for Old Mutual Financial Education, sets the record straight about these and other common misconceptions in this insightful podcast:
“It's really important that we clarify these misconceptions to ensure that people don’t compromise their retirement planning based on hearsay. Our role as Old Mutual, and the industry as a whole, is to help South Africans understand the two-pot system so that they can make sound decisions about their retirement,” Hollo says.
“If there’s anything you are unsure about relating to the two-pot system, don't hesitate to contact your financial services provider to get clarity. Never rely on your friends and family's advice about complex financial matters, especially if they're not an expert on the subject matter.”
This article was sponsored by Old Mutual.