Workers urged to seek retirement benefit counselling before two-pot system comes into effect

VAAL TRIANGLE - Working South Africans are urged to seek professional retirement benefit counselling before the two-pot system comes into effect. The system, set to revolutionise South Africa's R3.27-trillion private retirement industry on September 1, raises concerns about consumer understanding. NMG Benefits advisor Natasha Huggett-Henchie says professional guidance is crucial amidst confusion, as the system could ultimately benefit by preventing short-term loans and improving retirement outcomes. The system aims to preserve retirement funds while allowing partial access during employment, pending regulatory readiness.