Two-Pot Retirement System - Avoiding Costly Tax Mistakes and Protecting Your Retirement Savings

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
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• 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