After consultations, Treasury has finally published proposed new legislation that seeks to establish a two-pot retirement system in South Africa. If this legislation is passed, South Africans will be able to access one-third of their retirement savings throughout their career, while two-thirds will only become accessible on retirement. The reform allegedly is meant to prevent South Africans from cashing out their retirement savings when they resign. The legislation notes 1 March 2023 as a starting date for the new regulations and Interested parties have until 29 August to submit comments to Treasury. For more we are joined by Stefan Fouche Financial Advisor and Estate Planner at Liberty.

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