Consumers warned against spending spree after two-pot withdrawals

VAAL TRIANGLE - South African Reserve Bank Governor Lesetja Kganyago has warned consumers against spending sprees after two-pot withdrawals. The system, now effective, allows access to a third of retirement funds before retirement. Kganyago stressed that using these funds for consumption rather than debt reduction, could fuel inflation. Meanwhile, labour union federations such as Saftu have continued to criticise the system, calling it a scam that will not provide the needed financial relief for workers.