Two-pot system Ai it’s too much

[esther67]

I wonder who came up with this two pot system idea, it's totally rubbish.

[komotso21]

There was a valid concern that people need some portion of their savings to get themselves out of debt now. But the tax rate applied is only serving the government, its really not doing any dent on the people who need it. Its worse than a personal loan

[gugu89]

This money shouldn't really be taxed. Just look at that scenario 1, no actually difference in that withdrawal

[boity64]

It’s a quick way to raise revenue - since 1)SARS will be able to collect on your retirement now and not in the future 2)SARS is also able to collect what people owe

[valentia92]

It’s the government they need money urgently, the finance minister has been saying they running out of funds.

SARS at the same time it’s trapping they culprits

[jabu94]

Maybe South Africans need to relook at that Steinhoff matter cause a lot of pension fund money was there. This two pot system to me feels like trying to force people not to go after their pension fund and also those who to it’s seems to punish them and make more money out of them

[simphiwe21]

Cosatu was involved in some of the negotiations.

[busi654]

Cosatu was involved in some of the negotiations.

Unions came up with two-pot system as a way to ensure that estate workers have means of being financially free. The government however worked around it in a manner that benefits them at the end not the pensioner. We agreed to it based on the prior stated but it is now manipulated

[mokoena566]

But people will still fall for that rubbish and claim

[lukhele89]

Workers unions bbe ,they have been pushing for employees to access their funds. Then government took advantage

[buhle965]

Its the ANC comrades, u must remember they said government doesn’t have money, so they approached pension funds to invest in state owned they refused. They new dt portfolio has trillions n zillions. So they played a poor card and said they want to propose dt ppl get some money

Getting that money means it will be taxed, they banking on the poor to withdraw so dt almost half is taxed. So wen sars get the money they win, wer as poor are left to struggle again. as I always say these ppl are hard. Wer is 500billion of covid

[deekay42]

The thing is, some people were in such a debt that some decided to resign altogether in order to access their pension money. This system is to prevent people from stopping working altogether to access some of their pension money

[hlelo39]

Criminals in the private sector whom are trusted to invest these funds.. Observe the likes of Old mutual, Sanlam and more are running ads claiming to "educate" us. Unions and gvt in their pockets to support this robbery by capitalists.

[sicelo57]

In wish we were in a good position not to claim. Many of us really need that money with this big tax on it we will still go take it because our lives Yoh! But really our government is milking the working class like crazy. It’s really sad what they are doing to us

[rudo75]

It’s a system designed to enrich the government by taxing poor citizens their money. They are not patient anymore to wait for retirement age then tax you, they now want it from all working age groups

[zama245]

It’s complete rubbish because one saves from the money that is already taxed. So now that you saved it, it has to be taxed again. Should people now put their savings under the sofas? Mxm

[nathi74]

It’s complete rubbish because one saves from the money that is already taxed. So now that you saved it, it has to be taxed again. Should people now put their savings under the sofas? Mxm

Money is not taxed when contribute to our pension funds, only taxed when we withdraw

[janet789]

It’s complete rubbish because one saves from the money that is already taxed. So now that you saved it, it has to be taxed again. Should people now put their savings under the sofas? Mxm

Money is not taxed when contribute to our pension funds, only taxed when we withdraw

Savings are taxed annually even if you don't withdraw.

[nicole89]

Even if tax was to be 50%, I would still withdraw my funds without thinking. No one has a guarantee that they'll still be alive at my retirement age after 30 years from now. No one has a guarantee that our pensions will still be safe after 30 years with this coalition governments

[florence73]

Even if tax was to be 50%, I would still withdraw my funds without thinking. No one has a guarantee that they'll still be alive at my retirement age after 30 years from now. No one has a guarantee that our pensions will still be safe after 30 years with this coalition governments

Apart from that, you'll never have access to any lumpsums. Upon retirement, you receive a grant that the government will determine.
Could be less than 3k a month. Stru

[inno876]

Until South Africans push back we will always be " controlled and dedicated " for our hard earned money.....this system is nonessential

[veronica68]

Ubani lo Thandi ozosuka from 20k to 7k