Attendance at this seminar will secure 2 hour/s verifiable CPD points including other professional bodies (SAICA, SAIBA, SAIT, SAIPA , ACCA, IACSA & IRBA).
JEANMARI VAN DER SCHYFF
jeanmari@probetatraining.co.za
The two-pot retirement system gives members greater flexibility to access part of their retirement savings before retirement. However, every withdrawal has immediate tax consequences and may significantly reduce the value of your retirement fund over time. Understanding the rules before withdrawing could save you thousands in tax and help protect your financial future.
This webinar will cover the following:
The purpose of the two-pot retirement system and how it works.
Understanding the three components:
Vested Component
Savings Component
Retirement Component
Who may withdraw and when a withdrawal is permitted.
The latest legislative changes, including the ability to withdraw the full savings component on termination, even where the balance is below R2,000.
How many withdrawals are permitted each tax year.
The minimum and maximum withdrawal amounts.
How withdrawals are taxed and how they affect your annual tax liability.
Why your PAYE deducted by the retirement fund may not be your final tax liability.
The effect of outstanding SARS tax debt on retirement withdrawals.
The long-term financial impact of early withdrawals on your retirement capital.
Practical examples comparing the cost of withdrawing now versus leaving the funds invested.
Common mistakes members make before submitting a withdrawal request.
Practical guidance on when a withdrawal may—and may not—be financially worthwhile.
Audit mangers
Audit partners
Auditors
Bookkeepers
Financial accountants
All levels SAICA trainees
Financial managers
Employers and HR professionals
Payroll administrators
Financial advisers
Tax practitioners
Anyone wanting to better understand the two-pot retirement system
