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Videos

Two-pot update with
Saqib Hossain

The two-pot system is compulsory for most South African employees. Saqib Hossain, Senior Manager in Technical Marketing at FundsAtWork explains the two-pot system and how it might impact your retirement savings.

Graphic of two clay pots with African prints and a stack of gold coins pouring into one of the pots.

Two-pot update with Redwaan Zoutenberg

Redwaan Zoutenberg, Technical Marketing Specialist at FundsAtWork, breaks down how much will go into your savings and retirement component in the two-pot system.

Graphic of two clay pots with African prints and a stack of gold coins pouring into one of the pots.

What is the two-pot retirement system?

The two-pot system is set to change retirement planning. Despite its name, the system comprises 3 components. Starting 1 September 2024, your retirement savings will be divided into a vested, savings, and retirement component.

Graphic of two clay pots with African prints and a stack of gold coins pouring into one of the pots.

Why is the government doing this?

The government has established the savings component to facilitate access to some of your retirement savings in a financial emergency.

Graphic of two clay pots with African prints and a stack of gold coins pouring into one of the pots.

How much money can you withdraw and what are the implications?

The minimum withdrawal amount from the savings component is R2 000, and such withdrawals are subject to applicable taxes and administrative fees.

Graphic of two clay pots with African prints and a stack of gold coins pouring into one of the pots.

How should you view your 3 retirement components?

The 3 pots are considered a single retirement plan because any withdrawal from one pot reduces your overall retirement savings.

Graphic of two clay pots with African prints and a stack of gold coins pouring into one of the pots.

How the two-pot retirement system will work through examples

Practical examples of how retirement savings are allocated among the components.

Graphic of two clay pots with African prints and a stack of gold coins pouring into one of the pots.

Understanding the two-pot retirement system

An explainer video detailing the two-pot retirement system and its implications for members.

Graphic of two clay pots with African prints and a stack of gold coins pouring into one of the pots.

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