South Africa's National Treasury proposes public sector pension law amendments for a two-pot retirement system by September 1, 2024.
South Africa's National Treasury has proposed amendments to public sector pension laws to align pension laws across all sectors and implement a two-pot retirement system. The changes apply to the Government Employees Pension Law, 1996, Post and Telecommunications-related Matters Act, 1958, and Transnet Pension Fund Act, 1990. The amendments will be included in the Pension Funds Amendment Bill [B3-2024] and aim to allow pension funds to adjust fund rules and implement the new retirement system by September 1, 2024.
March 11, 2024
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