Government employees risk exclusion from the new two-pot retirement system

VAAL TRIANGLE - National Treasury warns that government employees risk exclusion from the envisioned two-pot retirement system due to unamended pension fund rules. The system allows one-third of future savings to be cashed out throughout a career, with the remaining two-thirds accessible upon retirement. Treasury urges urgent amendments to enable access to retirement and emergency funds. Currently, individuals can withdraw full pension savings upon leaving a job, often leaving them financially vulnerable in retirement. The Pension Funds Amendment Bill aims to amend pension rules.