Financial expert Prem Govender has advised South Africans against the premature withdrawal of their retirement funds.
She was reacting to the Pension Fund Amendment Bill that was signed into law by President Cyril Ramaphosa this month.
The law now implements the Two Pot retirement system, which means one-third of retirement contributions will be split into a savings component and two-thirds into a retirement component.
This will enable members of retirement funds to access their savings without having to resign.
Workers in good standing can withdraw up to R30 000 of their pension fund savings with the minimum being R2 000.
