By: Natasha Archary On the first day that the two-pot retirement system came into play, there were just under 2,500 withdrawal requests. The South...

SARS processed almost 2,500 tax withdrawal directives on the first day alone, while some fund administrators battled with system crashes as members...

SARS processed almost 2,500 tax withdrawal directives on the first day alone, while some fund administrators battled with system crashes as members...

By: Natasha Archary Two-pot withdrawal requests are exposing employers who have fallen behind on their pension fund contributions. While the South...

By: Natasha Archary Two-pot withdrawal requests are exposing employers who have fallen behind on their pension fund contributions. While the South...

Sars received an average of 17 964 tax directive applications a day since the two-pot retirement system came into effect.

Administrators are expected to earn between R640 million and R1.25 billion in fees from withdrawals under the two-pot retirement system.

SARS has received a total 161 607 tax directive applications since the 'Two-Pot' retirement system kicked on on 1 September 2024.

SARS has received a total 161 607 tax directive applications since the 'Two-Pot' retirement system kicked in on Sunday, 1 September 2024.

The FSCA and Sars were ready in time for the implementation of the two-pot retirement system despite earlier concerns.